Monday, October 13, 2014

BSE Sensex - Ichimoku Study - Tenkan Sen Folds - Week 3 of October 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 10 Oct'14

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

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

Bulls fail to keep it above the Tenkan Sen #W2.
Senkou Span A & B - gap lower #W3.
Tenkan Sen and Kijun Sen gap also reduces #W2

Wrap: Index hangs around the previous major High, but slips below the Tenkan Sen 

Looking Forward into this Week:

A Bearish, Chikou Span cross with Price line, at current altitude, will need time #W1.
Bulls need to get back above the Tenkan Sen #W2.
Senkou Span 'A & B' converging, remains good for Bears #W3.

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