Monday, August 25, 2014

BSE Sensex - Ichimoku Study - Bulls up - Week 4 of August 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 22 Aug'14

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

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

Bulls move up from recent lows and cross the Tenkan Sen #W2.
Senkou Span A & B - gap dips #W3.
Tenkan Sen and Kijun Sen gap also dips #W2

Wrap: Bulls climb above Tenkan Sen 

Looking Forward into this Week:

The Chikou Span, keeping current altitude, will need a couple of months to meet the price-line #W1.
Bears look to defend recent Highs #W2.
Tenkan Sen and Kijun Sen gap narrowing favors the Bears #W2.

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