Monday, November 17, 2014

BSE Sensex - Ichimoku Study - Bull Top - Week 3 of November 2014.

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

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

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

Bulls touch another ATH above the Tenkan Sen #W2.
Senkou Span A & B - gap expanding #W3.
Tenkan Sen and Kijun Sen gap constricting #W2

Wrap: Index uses the resistance of the last high, moves above the Tenkan Sen and makes a new ATH 

Looking Forward into this Week:

Senkou Span 'A & B' diverging, is good for Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few months #W1.
Tenkan Sen and Kijun Sen deflecting is also a few weeks away by current trends #W2

Wrap: Bears wish to get t
he index below the Tenkan Sen, Bulls focus on making new ATHs  #W2.