Sunday, March 31, 2013

BSE Sensex - Ichimoku Study - Week: 22 March to 28 March, 2013 - Bull Prayer Answered..

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

The Chikou Span Cross:  Strong Bullish Signal (Cc)  

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 28 March'13

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

Bulls have a better week and an answer to their prayers #1 & #2.
Oscillator continues to tick down #3.
Chikou Span deflects after the hair thin Bearish Cross and now can even be called a Bullish Deflection #1.

A Bullish Chikou Span Cross / Deflection, at this stage, if it can be held by the Bulls, marks a reversal...

Looking Forward into the next Week:

Getting above the Kijun Sen next Bull task #2.
Chikou Span staying above price line is must for Bulls #1.
A Bearish Cross of the Tenkan Sen and Kijun Sen #2, is on unless Bulls take off from here and reach Feb'2013 levels...

Keeping above the Chikou Span, if Bulls reach Feb'2013 levels in the coming week - they would avoid a Bearish Tenkan Sen - Kijun Sen Cross.