Tuesday, January 27, 2015

BSE Sensex - Ichimoku Study - Tenkan Sen to Breakout - Week 5 of January 2015.

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

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

Index  after breaking out above the Tenkan Sen and moving above the previous high, strikes out a new ATH #W2.
Senkou Span A & B - gap steadies #W3.
The gap between Tenkan Sen and Kijun Sen steadies #W2

Wrap: Index breaks out, from the range, around the Tenkan Sen and the Kijun Sen 

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 months #W1.
Bears seek to get the Kijun Sen above the Tenkan Sen and take out the last Index low #W2.

Wrap: Bulls Seek new All Time Highs, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range