Monday, March 31, 2014

BSE Sensex - Ichimoku Study - Bulls soar after pause - Week 1 of April 2014.

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

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

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

Bulls break-out to new All Time Highs again #W2.
Senkou Span A & B - gap widens #W3.
Distance between Tenkan Sen and Kijun Sen increases as in a broad deflection #W2
Chikou Span also makes a new High #W1.  

Wrap: Index soars after the pause, to a new ATH

Looking Forward into this Week:

Chikou Span dipping now would set up a easy meeting with the price-line #W1.
Early Deflection of Tenkan Sen & Kijun Sen, makes for a bull party #W2. Proximity of these two lines however, keeps the Bulls on the edge.

Wrap: Bears like the Chikou Span below the Price line. Bulls focus on widening the gap between the
Tenkan sen and the Kijun Sen after the deflection #W2.