Monday, February 22, 2010

Update on The Ultimate Momentum Signal

    Nifty Futures - Daily Chart



The Nifty future is still trading sideways. The future is trading above it's 200 day moving average at 4707 but below 50 and 100 day moving averages placed at 5040 and 5014 respectively. The market seems to be waiting  for the next trigger which may either be the union budget or any other overseas trigger.

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of  22nd, Feb. 2010 is given below.

The future and the index are still retaining the upward momentum as per The Ultimate Momentum Signal. As is indicated by the projected closing values required for the continuation of the positive momentum, (see the table below) there are chances of them slipping to neutral momentum as on the closing tomorrow .
 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading as on 23rd, Feb. 2010 are given in the table below. The table also include the projected closing values of BSE Sensex. 

                                           You can click on the chart to enlarge. 

It is observed that the closing values required for the continuation of the upward momentum have increased.

Cheers and Prosperous Investing and Trading!!!

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