Monday, December 8, 2014

BSE Sensex - Ichimoku Study - Bears edge in - Week 2 of December 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 05 Dec'14

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

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

Bulls pause with a red week near the ATH #W2.
Senkou Span A & B - gap even and the lines are climbing #W3.
Tenkan Sen and Kijun Sen are also reaching up with a narrowing gap between them #W2

Wrap: Index after moving above the Tenkan Sen pauses near the ATH 

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.
Bulls expect a Tenkan Sen and Kijun Sen deflection at current orientation, even if index falls back to the Tenkan Sen  #W2

Wrap: Tenkan Sen and Kijun Sen approach each other -  and the Bulls look for a deflection while the Bears hope for a Bearish Cross