Saturday, August 18, 2012

BSE Sensex - Ichimoku Study - Week: 13 August to 17 August, 2012 - Free of the Kumo ?

                           .....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.

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

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

BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
The BSE  Sensex 30 - End of Week Chart - 17 Aug, 2012.

Learning from the Past Week: (click here for the post)
Index remained with Bulls - above the Kijun Sen and Tenkan Sen.
The Bullish Tenkan Sen - Kijun Sen cross happens and its a strong signal, as it occurs above the Kumo!

Looking forward into the next Week:
A Bullish Chikou Cross is in the works, if the index moves ahead with current momentum.
Bears look at the flat Kumo's gravity, pulling the index down, damping the breakout momentum. 
Staying free of the Kumo - Bulls hope for a breakout move, to beyond previous highs.