Monday, March 3, 2014

BSE Sensex - Ichimoku Study - Bulls at Old Highs - Week 1 of March 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 28 Feb'14

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

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

Bulls thrive above the Tenkan Sen  #W2.
Senkou Span A & B - widen #W3.
Distance between Tenkan Sen and Kijun Sen contracts #W2
Chikou Span glides up in man's zone - after avoiding a bearish cross #W1.  

Wrap: Index thrives above the Tenkan Sen #W2.

Looking Forward into this Week:

Chikou Span needs to climb some more 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 works for bears #W2.

Wrap: Bears want the Tenkan sen below the Kijun Sen #W2. Bulls happy to hold the Chikou Span above the Price line #W1.