Sunday, April 7, 2013

BSE Sensex - Ichimoku Study - Week: 01 April to 05 April, 2013 - Kumo beckons

                     .....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 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:  Weak Bearish Signal (Cc)  
The Tenkan Sen/Kijun Sen Cross: Weak Bearish Signal (T) 

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 05 April'13

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

Bulls fail to avoid the Bearish Tenkan Sen - Kijun Sen Cross  #2.
Oscillator continues to tick down #3.
Chikou Span crosses under the price line to make a weak Bearish Signal #1.

A Bullish Chikou Span Cross / Deflection of last week, was not held by the Bulls, Bears continue with the fall..

Looking Forward into the next Week:

Getting above the Tenkan Sen would be the next Bull task #2.
Chikou Span staying below price line a must for the Bear run #1.
The Bearish Cross of the Tenkan Sen and Kijun Sen #2, stays on unless Bulls take off from here and reach Feb'2013 levels...

Next notable resistance for the Bears is the Kumo - Bulls would hope it does not have to go there...