Monday, August 11, 2014

BSE Sensex - Ichimoku Study - Bears Back up - Week 2 of August 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 08 Aug'14

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

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

Bears keep it below the Tenkan Sen again, even as Bulls defend recent lows #W2.
Senkou Span A & B - gap steadies up #W3.
Tenkan Sen and Kijun Sen gap also steadies up#W2

Wrap: Bears keep index below Tenkan Sen again 

Looking Forward into this Week:

The Chikou Span, keeping current altitude, will need a couple of months to meet the price-line #W1.
Thickening of the Kumo, favors the Bull Future #W3. 
Tenkan Sen soars - giving Bulls a longer journey to dominance #W2.

Wrap: Bears look to 
keep the index below the Tenkan Sen and break recent lows , Bull focus is to get above the Tenkan Sen to break the ATH #W2.