Monday, October 28, 2013

BSE Sensex - Ichimoku Study - The Bear Line Up - 6th and holding on :- Week: 21 October to 25 October, 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 25 Oct'13

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

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

The Senkou Span A&B #4 move higher but together, Tenkan Sen and Kijun Sen also do the same #3, and now they all read 19244.07  - 6th week they all read the same #5.
Bears pull one back and get a red week #2.

Despite Bulls making a new High #2 albeit in a red week, Bears hold on to their last line of defense #5..

Looking Forward into the next Week:

The Senkou Span B crossing above the Senkou Span A #4 or the Tenkan Sen above the Kijun Sen #3 would give the Bulls control of the Medium Term Screen.

Bears manage to hold this line up  #5 for the 6th straight week. 
Chikou Span moves nearer to Price Line - deflection or cross some time away #1.

Tenacious Bears desperately hold their line #5 - Bulls seek to dominate the Medium Term #3 & #4.