Saturday, July 7, 2012

BSE Sensex - Ichimoku Study - Week: 02 July to 06 July, 2012 - Kumo Breakout !

.....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 Kijun Sen Cross: Strong Bearish Signal (K)
The Tenkan Sen/Kijun Sen Cross: Strong Bearish Signal (T)
Chikou Span Cross: Weak  Bullish  Signal (C) 
The Tenkan Sen Cross:  Weak  Bullish   Signal (Te)
The Kijun Sen Cross:  Weak  Bullish  Signal (K) 
The Kumo Break-out:  Bullish  Signal (B) 

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

Learning from the Past Week: (Click)
The Index peeked out of the Kumo last week (B).
Senkou Span B as a resistance did not hold.
From here we have a long stretch of Flat Kumo - i.e Senkou Span B is flat.
For more on what the Flat Kumo means, do revisit this post (click

Looking forward into the next Week:
Bulls are expected to pull higher, after the Kumo Breakout.
However the flat Kumo would pull back the Bulls, even after the Kumo Breakout.
Confirmation on Daily chart is advised.