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Monday, November 24, 2014

BSE Sensex - Ichimoku Study - Bull Top again - Week 4 of November 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 22 Nov'14




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



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

Bulls touch yet another ATH above the Tenkan Sen #W2.
Senkou Span A & B - gap expanding #W3.
Tenkan Sen and Kijun Sen gap constricting again this week #W2


Wrap: Index uses the resistance of the last high, moves above the Tenkan Sen and makes yet another new ATH 
#W2




Looking Forward into this Week:


Senkou Span 'A & B' diverging, is good for Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few months #W1.
Tenkan Sen and Kijun Sen deflecting is also a few weeks away by current trends #W2


Wrap: Bears wish to get t
he index moving towards the Tenkan Sen, Bulls focus on making new ATHs  #W2.