Monday, March 9, 2015

BSE Sensex - Ichimoku Study - Red ATH - Week 2 of March 2015.

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

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

Index again uses the Tenkan Sen - Kijun Sen deflection, to get a higher ATH, week ends Red #W2.

Senkou Span A & B - gap narows some more W3.
The gap between Tenkan Sen and Kijun Sen, steadies #W2

Wrap: Index gets new ATH after
 Tenkan Sen and Kijun Sen deflect, last month #W2

Looking Forward into this Week:

A Bearish, Chikou Span cross, with Price line, at current altitude, will need a few more months #W1.

Tenkan Sen and Kijun Sen, deflect bullishly again - study of previous deflections and behaviour of price, after the deflection, is important #W2.

Wrap: Bulls look to using the deflection to make a new ATH, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range