Monday, March 2, 2015

BSE Sensex - Ichimoku Study - Deflection rewards - Week 1 of March 2015.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 27 Feb'15

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

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

Index  uses the Tenkan Sen - Kijun Sen deflection, to get higher #W2.

Senkou Span A & B - gap narowsW3.
The gap between Tenkan Sen and Kijun Sen, widens as in a deflection #W2

Wrap: Index Higher (
gets close to the 30K mark on Saturday) - 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 using the deflection to make a new ATH, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range