Sunday, March 17, 2013

BSE Sensex - Ichimoku Study - Week: 11 March to 15 March, 2013 - Bears Force Retreat

                     .....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 Flat Kumo: Bearish Signal (Ko)

The Tenkan Sen Cross:  Bearish Signal (Te)

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 15 March'13

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

Bulls use support at the Kijun Sen to prevent a crash #2.
Bears bring index below the Tenkan Sen again #2.
Oscillator ticks down #3.
Chikou Span again heads towards the Price line #1.

Bulls and Bears even on the medium term Screen.

Looking Forward into the next Week:

Staying above the Kijun Sen - Bulls have some relief #2.
Bears see strength, below the Tenkan Sen #2.
Chikou Span meeting price line is good for Bears #1.

A Bearish / Bullish Cross of the Tenkan Sen and Kijun Sen, is the next action point to watch.