Monday, March 10, 2014

BSE Sensex - Ichimoku Study - Bulls at New Highs - Week 2 of March 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 07 Mar'14

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

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

Bulls beat old highs staying above the Tenkan Sen  #W2.
Senkou Span A & B - gap narrows #W3.
Distance between Tenkan Sen and Kijun Sen contracts drastically #W2
Chikou Span shoots up - after avoiding a bearish cross with Price line #W1.  

Wrap: Index makes New Highs
 above the Tenkan Sen #W2.

Looking Forward into this Week:

Chikou Span needs to float round present height, to avoid a bearish cross with the Price Line in the next few weeks #W1.
Bears need to get below the Tenkan Sen to remain in the game #W2.
Contracting gap between Tenkan Sen & Kijun Sen, makes a bullish deflection or bearish cross imminent #W2.

Wrap: Bears want life below the Tenkan sen. Bulls pray for a deflection of  
Tenkan sen and the Kijun Sen #W2.