Monday, May 19, 2014

BSE Sensex - Ichimoku Study - Bulls Move ! - Week 4 of May 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 09 May'14

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

Learning from the Earlier Study: (click here for the post)

Bulls bounce off Tenkan Sen to create a breakout ATH #W2.
Senkou Span A & B - gap drastically narrows #W3.
Tenkan Sen and Kijun Sen close as in a defletion #W2

Wrap: Bulls create a breakout High but give up half of the gains

Looking Forward into this Week:

Chikou Span, keeping current altitude, will meet the price-line, in a few months #W1.
Post the second deflection of Tenkan Sen & Kijun Sen,  bulls good to prevent a bearish cross for another 1000 point fluctuation #W2.
Senkou Span A & B - gap contraction a concern for Bulls #W3.

Wrap: Bears hope is to get the index below the 
Tenkan sen - Bulls on a High! #W2.