Saturday, July 21, 2012

BSE Sensex - Ichimoku Study - Week: 16 July to 20 July, 2012 - Bulls hold fort.

                           .....Regulars can skip below and go straight to the chart......

Introduction / Preamble can be read at this link (click). 

Quick Reference : 
Chikou Span - pink line,
Kijun Sen - blue line, 
Senkou Span A - black line, 
Senkou Span B - grey line, 
Kumo - grey shaded area,
Tenkan Sen - red line.

Useful resources (free) from the Web:

Previous Signals seen on BSE 30 - Week Chart (EOW) as shown on chart below:

The Tenkan Sen/Kijun Sen Cross: Strong Bearish Signal (T)
Chikou Span Cross: Weak  Bullish  Signal (C) 
The Tenkan Sen Cross:  Weak  Bullish   Signal (Te)
The Kijun Sen Cross:  Weak Bullish  Signal (K) 
The Kumo Break-out:  Bullish  Signal (B)  
The Kumo Break-in:  Bearish Signal (B)

BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud: 
The BSE  Sensex 30 - End of Week Chart - 20  July, 2012

Learning from the Past Week: (Click)
Support for this week's candle was on the Kijun Sen.
The Chikou Span (pink line) threatens to cross the Price line.
A Senoku Span Cross seems near, with the Kumo (Cloud) narrowing at its tip.

Looking forward into the next Week:
Bears would want to see a bearish, Kijun Sen Cross, while the Bulls would look at the Flat Kumo helping them move up.
A Bearish Chikou Span Cross or Bullish Deflection is in the offing next week - to be watched.
The Senkou Span Cross also needs attention since, this Bullish Cross can happen in the next few weeks.