Monday, March 24, 2014

BSE Sensex - Ichimoku Study - Bulls pause High again - Week 4 of March 2014.

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

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

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

Bulls stay just below All Time Highs again (ATH)  #W2.
Senkou Span A & B - gap steady #W3.
Distance between Tenkan Sen and Kijun Sen also steadies #W2
Chikou Span dips towards Price line #W1.  

Wrap: Index stays paused near ATH

Looking Forward into this Week:

Chikou Span has to float round present height, to avoid a bearish cross with the Price Line in the next few weeks #W1.
Contracting gap between Tenkan Sen & Kijun Sen, makes a bullish deflection or bearish cross a couple of weeks away #W2.

Wrap: Bears like the Chikou Span below the Price line. Bulls pray for a deflection of the 
Tenkan sen and the Kijun Sen #W2.