Monday, November 18, 2013

BSE Sensex - Ichimoku Study - Tenkan Sen Bounce - Week 3 of November 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 14 Nov'13

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

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

Bears take advantage with a red candle following the Engulfing action on the Bull show of the previous week #W2.
Bulls bounce off the Tenkan Sen #W2.
All Ichimoku indicators still favor Bulls as above.

Wrap: Bear fight back falters at the Tenkan Sen.

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 imminent #W1.
Tenkan Sen remains the nearest support, the Bulls would count on, for the coming week too #W2.

Wrap: Bulls manage to dominate the Medium Term and hope for another go at the ATH - Bears fight to get below the Tenkan Sen #W2.