Saturday, June 8, 2013

BSE Sensex - Ichimoku Study - Week: 03 June to 07 June: 2013 - Meeting for Deflection or Cross 4 - Bullish Cross !?

                     .....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) marked on chart as per notes below:

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

The Tenkan Sen/Kijun Sen Meet: Awaited a Strong Bullish Signal (T)

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 months Data - as on 07 May'13

Learning from the Past Week: (click here for the post)

Tenkan Sen & Kijun Sen lines stay met, precisely without a cross or deflection for the 4th week #2. 
Chikou Span precisely meets the price line #1.
Index remains above the Kijun Sen, Tenkan Sen, MVWAP 34 confluence  #2.
Index ranges above the confluence #2.
Oscillator ticks down  #3.

Kijun Sen and Tenkan Sen stay together for what may be the final week...

Looking Forward into the next Week:

A Bullish Tenkan Sen - Kijun Sen Cross, seems to be next on the charts #2.
Chikou Span getting below price line a must for the Bears #1.
A Bearish Tenkan Sen - Kijun Sen Deflection, may give the Bears a sneaky win #2.
If the Chikou Span also bounces off the Price Line #1 - we have a powerful Bull run coming.

Deflection or Cross? Tenkan Sen could move above the Kijun Sen making a Bullish Cross next week - surprising the beleaguered Bulls and smug Bears...