Monday, July 14, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen Taken - Week 3 of July 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 11 July'14

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

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

Bears force a close below Tenkan Sen after 20 failed attempts #W2.
Senkou Span A & B - gap flares up #W3.
Tenkan Sen and Kijun Sen gap edges up #W2

Wrap: Bears succeed in closing index below Tenkan Sen, Bulls hold recent lows  

Looking Forward into this Week:

The Chikou Span, keeping current altitude, will need a few months to meet the price-line #W1.
Bulls want to stay above recent lows and get back above the Tenkan Sen #W2. 

Wrap: Bears look to keep index below the 
Tenkan sen, Bull focus is to stay above recent lows and make it above the Tenkan Sen #W2.