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Saturday, August 10, 2013

BSE Sensex - Ichimoku Study - Week: 05 August to 08 August - 2013 - Bears slip into Kumo..



BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 08 Aug'13



Introduction / Primer to Ichimoku, can be read at this link (click). 



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

Flat Kumo #3 rewards the Bears for the third week.
Gap between the Tenkan Sen & Kijun Sen narrow but steady #2.
Index slips deeper into the Kumo after Kijun Sen resists it last week #2.
Chikou Span slips further below the price line #1.


Bears use Gravity produced by the Flat Senkou Span B #3 to pull Index down as studied 4 weeks ago.




Looking Forward into the next Week:

Chikou Span moving down parallel to price line and in close enough proximity to Bullishly break into it #1.
Gap between the Tenkan Sen - Kijun Sen narrow but steady - Bearish Cross or Bullish Deflection possible #2.
Flat Senoku Span B may continue to attract the Index towards it. #3.


Bulls look to get out of the Kumo - Bears remain attracted to the Flat Senoku Span B - #3 ...