Monday, March 23, 2015

BSE Sensex - Ichimoku Study - Tenkan Sen Resists - Week 4 of March 2015.

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

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

Tenkan Sen resists the Index after the Cross - Bullls pull up before the Kijun Sen #W2.

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

Wrap: Index resisted by the Tenkan Sen, bulls keep it above the Kijun Sen

Looking Forward into this Week:

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

Tenkan Sen and Kijun Sen had deflected bullishly - study of previous deflections and behaviour of price, after the deflection, continues to be useful #W2.

Wrap: Bulls look to getting above the Tenkan Sen, where as Bears press for life below the 'Kijun Sen'