Saturday, June 15, 2013

BSE Sensex - Ichimoku Study - Week: 10 June to 14 June: 2013 - Meeting for Deflection or Cross 5 - Bullish Cross !?

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

The Chikou Span Cross:  Weak Bearish Signal (Cc)  
The Tenkan Sen Cross:  Bearish Signal (Te)
The Kijun Sen Cross: Weak Bearish Signal (K) 

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 14 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 for the 5th week #2. 
Chikou Span Bearishly crosses the price line #1.
Index slides below the Kijun Sen, Tenkan Sen, MVWAP 34 confluence  #2.
We have Three #2 Weak (above Kumo) Bearish Signals as above.
Oscillator ticks down  #3.
Last Day of the week produces a long tail to the weekly candle #2.

Kijun Sen and Tenkan Sen remain together even as three Weak Bearish Signals are produced...

Looking Forward into the next Week:

A Bullish Tenkan Sen - Kijun Sen Cross, failed to appear last week - remains on the cards for next week #2.
Chikou Span getting above price line required for above #1.
A Bearish Tenkan Sen - Kijun Sen Deflection, may give the Bears a sneaky win #2.
Chikou Span getting below price line did not help above #1.
This week's three weak Bearish Signals can reverse to three strong Bullish Signals - if Bulls take off from Friday's up move..

Tenkan Sen could move above the Kijun Sen making a Bullish Cross - to the relief of the hopeful Bulls and the chagrin of the bemused Bears...