Monday, January 12, 2015

BSE Sensex - Ichimoku Study - Tenkan Sen Breaks - Week 3 of January 2015.

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

Index  after ranging between the Kijun Sen and Tenkan Sen, breaks out above the Tenkan Sen, but falters at the last High and closes the week below it #W2.
Senkou Span A & B - gap steady #W3.
The gap between Tenkan Sen and Kijun Sen is also steady #W2

Wrap: Index back in the Tenkan Sen and the Kijun Sen range 

Looking Forward into this Week:

Senkou Span 'A & B' converging will be bad for the Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more weeks #W1.
Bears seek to move the Tenkan Sen below the Kijun Sen and take out the last Index low #W2.

Wrap: Bulls Seek life above the last All Time High, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range and heading towards the Kumo