Saturday, June 16, 2012

BSE Sensex - Ichimoku Study - Week: 11 June to 15 June 2012 - Eyeing the Kumo

.....Regulars can skip below and go straight to the chart......

Introduction / Preamble can be read at this link (click). 

Quick Reference : 
Chikou Span - pink line,
Kijun Sen - blue line, 
Senkou Span A - black line, 
Senkou Span B - grey line, 
Kumo - grey shaded area,
Tenkan Sen - red line.

Useful resources (free) from the Web:

Previous Signals seen on BSE 30 - Week Chart (EOW) as shown on chart below:

The Flat Kumo: Bullish Signal (Ko)
The Kumo Breakout: Bearish Signal (B)
The Kijun Sen Cross: Strong Bearish Signal (K)
The Tenkan Sen/Kijun Sen Cross: Strong Bearish Signal (T)
Chikou Span Cross: Strong Bearish Signal (C) 
Chikou Span Cross: Weak  Bullish  Signal (C) 
The Tenkan Sen Cross:  Weak  Bullish   Signal (Te)
The Kijun Sen Cross:  Weak  Bullish  Signal (K)

BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:    
The BSE Sensex 30 - End of Week Chart - 15 June, 2012.  

Learning from the Past Week:
After getting back into the Pink of Health (click) the Bulls are at the Kumo.
Earlier they made a Bullish Kijun Sen Cross and closed above the MVWAP 34, as anticipated in the last line of our weekend study (click). 3
The Oscillator has started inching up. 4

The Kumo as one can see from previous candles is strong resistance.

Looking forward into the next week:
If the index cannot effectively penetrate the cloud (Kumo) - it would be more consolidation or a drop.