Monday, February 3, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen Fall - Week 1 of February 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 31 Jan'14

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

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

Bulls slip below the Tenkan Sen and stay below it all week #W2.
Senkou Span A & B - steady #W3.
Distance between Tenkan Sen and Kijun Sen flat #W2
Chikou Span see price line beyond a deep chasm #W1.  

Wrap: Bulls slip below the Tenkan Sen #W2.

Looking Forward into this Week:

Chikou Span needs to cover a lot of ground to meet the Price Line in the next few weeks #W1.
Bears need to stay below 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 Big move  #W2 #W3.

Wrap: Bears eye the Kumo  #W2. Bulls trust the Chikou Span stays above the Price line #W1.