Monday, May 5, 2014

BSE Sensex - Ichimoku Study - Bulls Consolidate - Week 2 of May 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 02 May'14

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

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

Bears take the index towards the Tenkan Sen #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen gap also widens despite the fall #W2

Wrap: Bulls after pausing near ATHs for 2 weeks, take a hit

Looking Forward into this Week:

Chikou Span, keeping current altitude, will avoid the price-line, for a few months #W1.
Deflection of Tenkan Sen & Kijun Sen, gave the bulls gains earlier #W2.
Tenkan Sen & Kijun Sen gap can continue to widen, even if the Sensex fluctuates 300-500 odd points over the next few weeks #W2. 

Wrap: Bears keen to get the index below the 
Tenkan sen - Bulls want movement towards the ATH post consolidation #W2.