Monday, May 12, 2014

BSE Sensex - Ichimoku Study - Bulls move ATH - Week 3 of May 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 09 May'14

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

Learning from the Earlier Study: (click here for the post)

Bulls bounce off Tenkan Sen to launch into a new ATH last week #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen gap also widens as anticipated #W2

Wrap: Bulls after pausing near ATHs for 2 weeks, move to a new ATH

Looking Forward into this Week:

Chikou Span, keeping current altitude, will meet the price-line, in a few months #W1.
Deflection of Tenkan Sen & Kijun Sen, gave the bulls more gains #W2.
Tenkan Sen & Kijun Sen gap can continue to widen, even if the Sensex fluctuates 300-500 odd points over the next few weeks as seen  #W2. 

Wrap: Bears keen to get the index below the 
Tenkan sen - Bulls after new ATHs #W2.