Monday, February 16, 2015

BSE Sensex - Ichimoku Study - Tenkan Sen Support - Week 3 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  finds 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 narrows further #W2

Wrap: Index bounces of the Tenkan Sen - Gap between Tenkan Send and Kijun Sen narrow 

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 set to cross bearishly or deflect bullishly again #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