Monday, November 11, 2013

BSE Sensex - Ichimoku Study - Engulfing Bear - Week 2 of November 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 11 Nov'13

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

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

Bears fight back for control of the Medium Term with a Engulfing action on the Bull show of the previous week #W2.
All Ichimoku indicators still favor Bulls as above.

Bulls unable to keep the their new All Time High (ATH) as Bears fight back.

Looking Forward into the next Week:

All Ichimoku signals show green for the Bulls as of now.

Chikou Span moves towards the Price Line - deflection or cross near #W1.
Tenkan Sen is the nearest support, the Bulls would count on, for the coming week #W2.

Bulls still dominate the Medium Term and aim for another go at the ATH - Bears fight to get below the Tenkan Sen #W2.