Saturday, June 2, 2012

BSE Sensex - Ichimoku Study - Week: 28 May to 01 June 2012 - Sensex sees Red

.....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:

Last 7 Signals seen on BSE 30 - Week Chart (EOW) as on chart below:

1. The Flat Kumo: Bullish Signal (Ko)
2. The Kumo Breakout: Bearish Signal (B)
3. Chikou Span Cross: Strong Bearish Signal (C)
4. The Kijun Sen Cross: Strong Bearish Signal (K)
5. The Tenkan Sen/Kijun Sen Cross: Strong Bearish Signal (T)
6. Chikou Span Cross: Weak  Bullish  Signal (A)
7. Chikou Span Cross: Strong Bearish Signal (A)

    BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:  
The BSE Sensex 30 - End of Week Chart - 01 06 June, 2012.  

We expected the Index to breach the red Tenkan Sen last week.
A valiant effort which fell short - is seen in the tall red candle of last week.
We have at 'A'  the Chikou Span recrossing the Price line bearishly - negating the gains of last week.
The way the Chikou Span is oriented, looks like it can recross the Price line bullishly again, shortly.
The Oscillator is ticking down.

Bears have taken back the gains Bulls made last week.
Its still consolidation mode - but with a Bearish 'Red' tinge.
Watch that Chikou Span next week.