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Monday, December 29, 2014

BSE Sensex - Ichimoku Study - Range - Week 1 of January 2015.







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



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

Bulls again attempt to leave the Tenkan Sen behind, even as the Tenkan Sen and Kijun Sen deflect bullishly, some more #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen continue broad/distant deflection (see earlier deflections in the chart above) #W2


Wrap: Index Ranges between the Tenkan Sen and the Kijun Sen 
#W2



Looking Forward into this Week:


Senkou Span 'A & B' converging will be bad for the Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more weeks #W1.
Bears seek to move the Tenkan Sen below the Kijun Sen and take out the last Index low #W2.


Wrap: Bulls Seek life above the Tenkan Sen while Bears look at moving the index below the Kijun Send and heading towards the Kumo 
#W2.