Saturday, September 8, 2012

BSE Sensex - Ichimoku Study - Week: 03 September to 07 September, 2012 - Bingo !

                          .....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.

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

The Tenkan Sen Cross:  Weak  Bullish   Signal (Te)
The Senoku Span Cross:  Neutral  Bullish  Signal (Ss)
The Kijun Sen Cross: Neutral  Bullish Signal (K)
The Tenkan Sen/Kijun Sen Cross: Strong  Bullish Signal (T) 
The Kumo Break-out: Bullish Signal (B) 
The Chikou Span Cross:  Strong   Bullish Signal (Cc)

BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
The BSE  Sensex 30 - End of Week Chart - 07 Sept, 2012.

Learning from the Past Week: (click here for the post)
As anticipated last week,  the Bullish Chikou Cross (Cccame to the rescue of the Longs  - Bingo
The Bulls also get a Bullish Kumo Breakout (B).
Taking Support at the Juncture of the Tenkan Sen and MVWAP 34 - we have the Bulls using the pull of the flat 'Senkou Span B' to yo yo out of the Kumo.

Looking forward into the next Week:
Bears need to take out the duo of the MVWAP 34 and Tenkan Sen to make an impact.
Bulls need to beat the last major High made earlier this year to get on top.
Staying above the Kumo - advantage is with the Bulls on above.
The flattening seen on the red Tenkan Sen and the Blue Kijun Sen, could result in a bearish cross in the next few weeks and this is advantage Bears.