Sunday, May 26, 2013

BSE Sensex - Ichimoku Study - Week: 20 May to 24 May: 2013 - Meeting for Deflection or Cross 2

                     .....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 Chikou Span Cross:  Strong Bullish Signal (Cc)  
The Tenkan Sen Cross:  Bullish Signal (Te)
The Kijun Sen Cross: Strong Bullish Signal (K) 

The Tenkan Sen/Kijun Sen Meet: Awaited a Strong Bullish Signal (T)

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 24 May'13

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

Tenkan Sen & Kijun Sen lines stay met, precisely without a cross or deflection yet #2. 
Index remains above the Kijun Sen line  #2.
Oscillator ticks up  #3.
Chikou Span dives towards the price line #1.

Desperate Bears get their red week, Kijun Sen and Tenkan Sen meet exactly.

Looking Forward into the next Week:

A Bullish Tenkan Sen - Kijun Sen Cross, should be the next Bull ask #2.
Chikou Span getting below price line a must for the Bears #1.
A Bearish Tenkan Sen - Kijun Sen Deflection, may give the Bears a sneaky win #2.
Meeting of the Tenkan Sen and Kijun Sen needs resolution either way #2.

Deflection or Cross? Tenkan Sen and Kijun Sen are equal and  this can cause the index to range before moving on..