Monday, July 7, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen Bounce - Week 2 of July 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 04 July'14

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

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

Bulls take off from support just above Tenkan Sen to make a new closing ATH (weekly)  #W2.
Senkou Span A & B - gap steady #W3.
Tenkan Sen and Kijun Sen gap also steady #W2

Wrap: Bulls make a new weekly closing ATH - Bears defend intra-week ATH 

Looking Forward into this Week:

The Chikou Span, keeping current altitude, will meet the price-line, in a few months #W1.
Bulls want to keep the price line clear of the Tenkan Sen and make new ATHs #W2. 

Wrap: Bears eye the index below the 
Tenkan sen, Bull focus is to stay above the Tenkan Sen and make new ATHs #W2.