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Monday, December 15, 2014

BSE Sensex - Ichimoku Study - Tryst with Tenkan Sen - Week 3 of December 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 12 Dec'14



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



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

Bulls dive to the Tenkan Sen even as the Tenkan Sen and Kijun Sen deflect bullishly, exactly as studied last week #W2.
Senkou Span A & B - gap even and the lines are flat #W3.
Tenkan Sen and Kijun Sen have a broad/distant deflection (see earlier deflections in the chart above) #W2


Wrap: Index after pausing near the ATH dives to the Tenkan Sen 
#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 weeks #W1.
Bulls expect the Tenkan Sen and Kijun Sen deflection to remain at current orientation, even if index slips below these lines this week  #W2


Wrap: Tenkan Sen and Kijun Sen approach each other -  the Bulls look for a deflection back to the ATH while the Bears hope for a Cross directed at the Kumo 
#W2.