Sunday, September 28, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen Bounce - Week 1 of October 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 26 Sept'14

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

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

Bulls again close above the Tenkan Sen after bouncing off previous High Zone #W2.
Senkou Span A & B - gap higher #W3.
Tenkan Sen and Kijun Sen gets closer #W2

Wrap: Index come up from below to close above the Tenkan Sen 

Looking Forward into this Week:

A Bearish Chikou Span cross with Price line, at current altitude, will need couple of months #W1.
Bulls need to hold above the Tenkan Sen #W2.
Senkou Span A & B - converging is good for Bears #W3.

Wrap: Bears seek to again try getting t
he index below the Tenkan Sen, Bull focus is to keep above previous Highs and attempt new ATH(All Time High) #W2.