Saturday, September 1, 2012

BSE Sensex - Ichimoku Study - Week: 27 August to 31 August, 2012 - Flat Kumo & Gravity !

                          .....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 Tenkan Sen/Kijun Sen Cross: Strong  Bullish Signal (T) 
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 - 31 Aug, 2012.

Learning from the Past Week: (click here for the post)
Index moved to Neutral zone - into the Kumo (cloud).
Bears used the flat Kumo's gravity, pulling the index down, damping the breakout momentum -  with the Bearish Kumo Break -in (B)
The Chikou Span (pink line) did not cross the Price line, instead it deflected as seen in 'A'.
Price took support at the Tenkan Sen 'B'

Looking forward into the next Week:
A Bullish Chikou Cross can still give the bulls, a bounce back, out of the Kumo. 
Staying above the Tenkan Sen - Bulls look at making it out of the Kumo. 
Bears see the MVWAP 34 as the next target.
One looks out for the Bullish Chikou Cross, happening early next week.