Monday, January 13, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen gives - Week 3 of January 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 10 Jan'14

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

Learning from last Week: (click here for previous post)

Bulls lose support as the Tenkan Sen gives way, Index closes below it #W2.
Senkou Span A & B - gap steady #W3.
Distance between Tenkan Sen and Kijun Sen also steady #W2

Wrap: Bears close below the Tenkan Sen with a second red week in 2014 #W2.

Looking Forward into this Week:

Chikou Span keeping above the Price Line critical for Bull moves #W1.
Bulls need to get above the Tenkan Sen to remain in the game #W2.
Flattening of Tenkan Sen, Kijun Sen and the Senkou Span A & B indicative of consolidation before a major move #W2 #W3.

Wrap: Bears look keep the Index below the Tenkan Sen #W2. Bulls still eye the ATH.