Wednesday, February 24, 2010

Update on The Ultimate Momentum Signal

                Nifty Futures Daily 













Nifty futures traded sideways as expected. At the time of writing, the US markets were trading at their lowest levels in five days, which  raises the risk of downward breakout of the futures from the continuation bear flag kind of formation. All daily moving averages are seemingly converging which adds the risk of big movements in either direction.



 

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of  23rd, Feb. 2010 is given below.

 
The Momentum Signal has returned neutral values for both the futures and the Nifty index.
 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 24th, 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. 

Cheers and Prosperous Investing and Trading!!!

 
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