Saturday, November 17, 2012

BSE Sensex - Ichimoku Study - Week: 12 November to 16 November, 2012. - Bears close in..

                      .....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) marked on chart as per notes below:

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)  

The Tenkan Sen Cross:  Weak Bearish Signal (Te)

BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
The BSE  Sensex 30 - End of Week Chart - 16 November, 2012

Learning from the Past Week: (click here for the post)

The Chikou Span kissing distance away from the Kumo, ready to cross or deflect #1.
Oscillator ticks down #3
Tenkan Sen #2 makes a Bearish Cross of the Price as studied last week.
Flat Kumo effect on, for few more weeks.

Looking forward into the next Week:

Staying above the Kumo #2 - advantage is with the Bulls.
Action of the Chikou Span #1 near the Kumo is important next week.
Bulls would need to move above the Tenkan Sen #2 to get back lost momentum.