Monday, December 22, 2014

BSE Sensex - Ichimoku Study - Tryst with Tenkan Sen 2 - Week 4 of December 2014.

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

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

Bulls attempt to leave the Tenkan Sen behind, even as the Tenkan Sen and Kijun Sen deflect bullishly, some more #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen have a broad/distant deflection (see earlier deflections in the chart above) #W2

Wrap: Index attempts to get above the Tenkan Sen, after it comes up from below the Kijun Sen 

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 weeks #W1.
Bulls expect the Tenkan Sen and Kijun Sen deflection to remain at current orientation, even if index again slips below these lines this week  #W2

Wrap: Tenkan Sen and Kijun Sen deflect broadly -  the Bulls look for a deflection back to the ATH while the Bears hope for a Cross directed at the Kumo