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Monday, February 23, 2015

BSE Sensex - Ichimoku Study - Deflection again? - Week 4 of February 2015.







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


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

Index  builds on support even as Bears are not able to take it below the Tenkan Sen #W2.
Senkou Span A & B - gap steady #W3.
The gap between Tenkan Sen and Kijun Sen, widens as in a deflection #W2


Wrap: Index bounces of the Tenkan Sen - Gap between Tenkan Send and Kijun Sen, widens as in a deflection 
#W2



Looking Forward into this Week:


A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more months #W1.
Tenkan Sen and Kijun Sen, deflect bullishly again - study of previous deflections and behaviour of price, after the deflection, is important #W2.


Wrap: Bulls look to get back to making All Time Highs (ATH), whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range 
#W2.