Monday, February 24, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen Pipped - Week 4 of February 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 21 Feb'14

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

Learning from last Week: (click here for previous post)

Bulls peep above the Tenkan Sen  #W2.
Senkou Span A & B - flatten #W3.
Distance between Tenkan Sen and Kijun Sen steady #W2
Chikou Span glides up in man's zone - avoiding a bearish cross #W1.  

Wrap: Index peeps above the Tenkan Sen #W2.

Looking Forward into this Week:

Chikou Span needs to climb some more to avoid a bearish cross with the Price Line in the next few weeks #W1.
Bears need to get below the Tenkan Sen to remain in the game #W2.
Flattening of Tenkan Sen, Kijun Sen and the Senkou Span A & B implies consolidation  #W2 #W3.

Wrap: Bears eye the Kumo  #W2. Bulls happy that the Chikou Span is above the Price line #W1.