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Wednesday, March 31, 2010

Update on The Ultimate Momentum Signal - 31th March, 2010

The System Signals an Exit...!

On Tuesday, the Nifty futures closed in the neutral territory and this is a signal to exit the long positions entered on 26th Feb. 2010. The long position in the Nifty futures gained a profit of more than 300 points after considering the shifting costs. 

Nifty Futures - Daily Chart



The Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of 30th March 2010, is given below.



Projected Momentum Signal Close Values


The projected levels of closing values required for momentum shift / neutrality / continuation as on the close of trading on 31st March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.

You can click on the table to enlarge. For more info on the above table, please click here.

Cheers and Prosperous Investing and Trading!!!



 2010 momentumsignal.blogspot.com All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Tuesday, March 30, 2010

Update on The Ultimate Momentum Signal - 30th March, 2010

 The Breakout - Day 19

Nifty at a New High...!

The Nifty futures traded at a new 52 week high on Monday. Even though  the futures traded lower in the second half of Monday, it never breached the Friday's high of  5310. Finally, it closed at a new 52 week high at 5322.

Nifty Future - Daily Chart   




The trailing stop has been raised to 5232, which is 2.1 % lower than the Monday's high of 5344. 

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   29th March 2010, is given below.



The value of the Ultimate Momentum Signal has remained in the bullish territory for the nineteenth day, after triggering a buy signal at 4936 on the budget day, the 26th of February.

 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading  on 30th March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.




You can click on the table to enlarge. For more info on the above table,  please click here.


Please note that the minimum closing values required for keeping the Momentum Signal in the buy mode ( i.e. above +50 ) are placed at 5278 and 5274 for the futures and the underlying index respectively.

Cheers and Prosperous Investing and Trading!!!

PS: 
Hi Visitors, 
It seems that blogspot.com has difficulties in accepting uploaded pictures and therefore the non-clarity of the chart and tables which were uploaded through another service. Please bear with the inconvenience. 
Kind Regards,
momentumsignal

PPS : Pictures and tables were uploaded again on 31st March, 2010, and therefore, the problem has been solved.
Kind Regards,
momentumsignal

 




© 2010 momentumsignal.blogspot.com All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Sunday, March 28, 2010

Update on The Ultimate Momentum Signal - 29th March, 2010


The Breakout - Day 18

The Nifty Future Tested the High..! But, What Next...?

The story so far :

Nifty Future (NF) : Hey honey, I just tested my previous high on last Friday. But, why didn't you join me?
Nifty Index (NI) : What can I say ? You can do whatever you like..! But I am dependent on my constituents. And some of my constituents are not cooperating enough.
NF : Will they cooperate if I try again ?
NI : Who knows... !  May be it depends on what other world indices may do...!
Sensex : Thank god, my future is not asking any such questions...! 
( To be continued in the next episode. Monday to Friday 9.00 AM to 3.30 PM )

So far so good. But what next ? No one knows for sure. This is the technical picture of the market. The US indices closed near the lows of their trading ranges on the last two trading days, after advancing  to higher grounds in the early parts of the days. Is it a temporary loss of momentum or a reversal of the trend ?  Now let us check the Nifty Futures Chart.

Nifty Futures  - Daily Chart


The resistance is at 5310 and the intraday trailing stop has moved up to ( High 5310 less 2.1 % )  5198.

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   26th March 2010, is given below.
 
 
The value of the Ultimate Momentum Signal has remained in the bullish territory for the eighteenth day after triggering a buy signal on the budget day, the 26th of February.

 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading  on 29th March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.
 
  You can click on the table to enlarge. For more info on the above table,  please click here.

Please note that the minimum closing values required for keeping the Momentum Signal in the buy mode ( i.e. above +50 ) have gone up to 5279 and 5273 for the futures and the underlying index respectively.



© 2010 momentumsignal.blogspot.com All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Saturday, March 27, 2010

The Nifty Heavy Weights


 The Nifty and it's Biggest Constituents Revisited....!

The S&P Nifty closed almost at a post bear market high of 5274 on 26th March, 2010. Now, let us examine the various moving averages of the index and it's biggest constituents. 

S&P Nifty - Daily Chart and Simple Moving Averages

Please click on the chart to enlarge. 

The 20, 50, 100 and 200 day moving averages ( DMAs ) of the S&P Nifty index are placed at 5136, 5019, 5032 and 4827 respectively as on 26th March, 2010.


And here is a table showing the name, weightage, closing price, and the 20, 50, 100, 200  DMAs of the ten biggest constituents of the S&P Nifty index. The last column of the table shows the closing price of the constituent as a percent of it's 200 day moving average.   

Nifty Heavies 

Please click on the table to enlarge.

The IT heavies, TCS and Infosys are quoting at prices which are 33.7% and 22.2 % higher than their 200 DMA respectively.  Tatasteel and HDFC Bank are also quoting at 24.3 % and 21.1 %  higher prices than their 200 DMAs. These four issues are leading the present uptrend . ICICI Bank and ITC ,which are quoting at 15.2 % and 10.5 % above their respective 200 DMAs, are the secondary leaders of the uptrend. The other Nifty heavies are quoting between 100 and 110 % percentage of their 200 DMAs.

Cheers and Prosperous Investing and Trading!!!

© 2010 momentumsignal.blogspot.com. All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Friday, March 26, 2010

Update on The Ultimate Momentum Signal - 26th March, 2010

 The Breakout - Day 17
Shall We Test the Previous High....!

"The reports of my death have been greatly exaggerated. "

This is a comment supposed to have made by Mark Twain when someone queried him about some false news about his death.
Similarly, the present uptrend is still on and any news of it's end is also greatly exaggerated.  The Nifty futures opened lower in tandem with the Asian markets and later on rallied on Thursday, the expiry day. The current month futures closed at 5260. The next month futures closed at 5277 with a premium of 17 points.
On Thursday, the European and the US markets were trading at new  eighteen month highs on the news of a possible IMF backed rescue of the debt ridden Greece and infusion of fresh money by the Dubai government in to Dubai World. Meanwhile, Chairman Ben Bernanke of the US Federal Reserve reiterated that extremely low interest rates will persist for an extended period. All western markets are trading with positive momentum even though the eastern ones are a bit lagging now.
The Nifty futures may test the January, 2010 highs in the coming days. Meanwhile, it is reported that the turnover of the B Group shares have started exceeding the turnover of the bigger and higher capitalised companies in the Bombay stock exchange. Moreover, the advance decline ratio also seems to be a bit lagging the uptrend. These two factors are not very encouraging signs.
                        Nifty Futures - Daily Chart   


As the technical position of the market hasn't changed, the resistance and the trailing stop remains at the previously published levels of 5305 and 5170 respectively.

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   25th March 2010, is given below.
 
 
The value of the Ultimate Momentum Signal has remained in the bullish territory for the seventeenth day after triggering a buy signal on the budget day, the 26th of February.
 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading  on 26th March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.
  You can click on the table to enlarge. For more info on the above table,  please click here.

Please note that the minimum closing values required for keeping the Momentum Signal in the buy mode ( i.e. above +50 ) has gone up to 5275 and 5259 for the futures and the underlying index respectively and these values are approximately at the Thursday's closing values.
 


© 2010 momentumsignal.blogspot.com All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Wednesday, March 24, 2010

Update on The Ultimate Momentum Signal - 25th March, 2010

 The Breakout - Day 16

 Cautiously Optimistic Settlement Ahead...?
On Tuesday, the Nifty futures opened higher than the previous close and closed at 5225 gaining 20 points. Tuesday's range was confined to the previous day and therefore, it qualified as an inside day.
Inside days indicate indecision. Meanwhile, the US markets closed at an eighteen month high on Tuesday. The US VIX index ( volatility index ) also closed at a new low.  Today, most Asian markets closed in the positive territory. At the time of writing this edition, ( 8.30 PM, IST, 24the March, 2010 ) most of the European and the US markets were trading with insignificant losses because of the new worries on the debt problems of Greece and a debt downgrade of Portugal. However, all major world equity indices are showing either positive or neutral momentum.  

Nifty Future - Daily Chart  


Monday, March 22, 2010

Update on The Ultimate Momentum Signal, 23rd March, 2010

 The Breakout - Day 15

 Caution - Make or Brake it Days Ahead... !

On Monday, the Nifty futures opened 70 points below the previous day's last trade  as a consequence to the shock rate hike by the RBI and due to the weakness in the Hong Kong and the Singapore markets. It traded upwards till 11 o'clock and thereafter started the slow decline. Finally, it closed at 5207. Surprisingly, the trialing stop at 5170 stood unaffected during the day and the system has  not yet signaled an exit.


Nifty Futures - Daily Chart  

Sunday, March 21, 2010

Update on The Ultimate Momentum Signal - 22 - 03 - 2010

The Breakout - Day 14
The Old Lady on the Mint Street Punches....!

Heard on the web:
"Everyone has a plan 'til they get punched in the mouth."
Now it's a question of who punched whom..! 
The Old Lady on the Mint Street is an old and forgotten name for RBI.  Last Friday, the RBI  announced quarter percent hikes in the REPO and reverse REPO rates after the markets were
closed .

Now it's the question of who got punched...!

Here's a picture which says it all...!

                               Picture Source - http://www.google.com/finance

Friday, March 19, 2010

A Comment on The S&P Nifty Valuations.

 What does the common sense analysis say...?

The S&P Nifty index consists of fifty big companies from various industries. An index like the Nifty can also be analyzed just like a company on the basis of it's fundamentals. Since the prediction of the index fundamentals  are beyond the scope of this blog, let's stick with the published historical data available from the NSE website on a daily basis.

( May be this is like trying to drive a car by looking on the rear view mirror..! ). 

Today, S&P Nifty closed at 5250 and the historical Price Earnings Ratio ( PER ), Price to Book Value Ratio ( PBV ) and the Dividend Yield Ratio ( DV ) are at 22.32, 3.69 and 0.94 respectively. These ratios were at 23.59, 3.72 and 0.93 respectively on the 6th of January 2010 when the Index touched the post bear market high. In order to make the head and tail of these data points let us refer to our common sense guide to the Nifty historical valuations. The following table is a reproduction from the Nifty Fundas page accessible from this blog's home page. 

Common Sense Guide to the Nifty Historical Fundamentals


According to the common sense guide,  the PER of 22.32 is in the High Valuation range while the PBV of 3.69 is somewhere between the long term average and high valuations. However, the DY of 0.94 is already in the very high valuation range. On speculating about the reason for these anomalies, we may come to the conclusion that the India Inc is still in the mode of conserving and raising cash and hence the low DY and the comparatively low PBV. Now the question is whether the India INC. can deliver a growth of  profits which is above 25 %. The current valuation seems to be justified only by a minimum growth in profits of 25 % in the coming year.

For more information on the common sense analysis of Nifty long term historical valuations, please read Nifty Fundas.

Happy Investing and Trading!!!

You can read the Info on the Ultimate Momentum Signal from here.

You can also checkout the five year history of The Momentum Signal Spreadsheet from here.



© 2010, momentumsignal.blogspot.com All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Thursday, March 18, 2010

Update on The Ultimate Momentum Signal - Update for 19 - 03 - 2010

The Breakout - Day 14

 Another Day of Consolidation.....!
The Nifty futures opened today at 5144 and traded mostly inside the yesterday's range.  It closed at 5255 forming an inside day. Today, the Australian, Indian and Taiwanese markets closed  in  the positive territory, but the Japanese and Hongkong markets closed with negative bias. The European markets have also closed flat or with negative bias. At the time of writing the post, the US markets are also trading flat. 

                     Nifty Futures - Daily Chart

As the technical position of the market has not changed today, the stop loss for long positions remains at 5160. Meanwhile the S&P CNX Nifty index valuations have reached the upper ranges of normal bull markets and therefore traders are advised to adopt a cautious mode. Please also read the
next post for more information on the index valuations.

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   18th March 2010, is given below.
You can click on the table to enlarge. For more info on the above table,  please click here.

The Momentum Signal has returned the maximum value of +100 for the fourteenth consecutive day indicating the continuation of the uptrend.

 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading  on 19th March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.

 You can click on the table to enlarge. For more info on the above table,  please click here.

Even though the trading system rules recommends a trailing stop loss of 2.5 % from the maximum favorable excursion, it stands reduced to 2.1 % from day before yesterday, due to the long nature of the uptrend and the significant non - participation by some of the Nifty constituents in the current rally.  The  new stop loss point is at 5160.



© 2010, momentumsignal.blogspot.com  All rights reserved.


Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy.

Wednesday, March 17, 2010

Update on The Ultimate Momentum Signal - 18th, March 2010

  The Breakout - Day 13

  One More Up Day.....!

Some Trader Thoughts
Trading is a boring job for a system trader. Once a trading system is designed and tested, he just needs to follow the rules. Trading the 'Ultimate  Trading System'  is also a boring job to anyone who needs some constant action and thrills. According to the system rules nothing was needed to be done  today with respect to the long positions in the Nifty Futures, except for the raising of the trailing stop to 5160. ( Today's High 5271 - 2.1% = 5160 ).

It seems that all izz well....!
At the time of writing this edition, the Dow Jones Industrial Average ( DJIA ) was trading  at 10768, which is a new high. S&P 500 and Nasdaq are also trading at newer highs. The US VIX has fallen to a new low of 16.54, indicating investor confidence.  Meanwhile, in  the UK markets, the FTSE also closed at a new high. The German DAX and the Japanese NIKKEI also closed within a percent of their  January 2010 highs. We may also test our January highs barring unforeseen events. It seems that all izz well for the time being.

Nifty Futures - Daily Chart
The Updated Momentum Signal Spreadsheet 

Tuesday, March 16, 2010

Update on The Ultimate Momentum Signal -17th, March 2010

  The Breakout - Day 12

  Finally, Reliance Joins the Party...!
Till yesterday, the Nifty futures were trading sideways and this blog had pointed out the non-participation of Reliance in the rally. This is what we wrote yesterday :-

"The fate of the uptrend seems to be depending on the participation of the market heavy weight Reliance. Till today, Reliance seems to be unable to break out of the convergence of the 200, 100 and the 50 day moving averages at the 1030 - 1040 range. See the chart of Reliance showing the convergence of the various moving averages."
Today, Reliance broke out of the convergence zone of the moving averages and see what happened to the stock and the markets...!
Reliance - Daily Chart with Moving Averages  


Reliance started the uptrend right from the morning and never looked back. Today, the Nifty futures

Monday, March 15, 2010

Update on The Ultimate Mometum Signal

  The Breakout - Day 11

  Loss of momentum continuing ...?
Today, the Asian markets traded with a downward bias, fearing further monetary tightening  in China. The Nifty futures opened lower at 5122 and traded to a low of 5105, in the first  two hours. Later, the markets rallied and closed almost at the high of 5136. However, concerted selling in the futures were seen at the 5136 to 5136.25 range, whenever the futures reached those levels. But the sellers were not seen trying to damage the price by selling downwards. Please see the intraday chart of the futures given below.
Nifty Futures - 5 Min. Chart

All long positions in the Nifty futures entered as per the buy signal on 26th Feb. need to be protected 

Sunday, March 14, 2010

Update on The Ultimate Momentum Signal

  The Breakout - Day10
  Loss of momentum...?
The Nifty futures opened at 5133 last Monday. It traded sideways for most of the week and closed at 5148 with weekly gain of 61 points. The implied volatility of the Nifty options have shrunk to below 20. The weekly ATR has reached 1.59 %, which is very near the post bear market lows. Even though the market may trend upwards with low volatility for some more time, it seems that the time has come to tighten the stops on all long positions. The weekly chart of the futures showing the price, moving averages, and ATR panels is given below.
Nifty Futures - Weekly Chart - Price, Moving Averages & ATR

Thursday, March 11, 2010

Update on The Ultimate Momentum Signal

 The Breakout - Day 9
 
Now What....?

The Nifty Futures opened near the yesterday's close at 5119 and tried to test the yesterday's low  in the first hour. It failed the test of low and thereafter, the futures rallied further. It closed at the week's high at 5159.  Now, the question is how much steam is left in the uptrend !  Let us return to the Momentum Signal model and it seems that the uptrend is still on.
           Nifty Futures - Daily Chart













The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   11th March 2010, is given below.

Wednesday, March 10, 2010

Update on The Ultimate Momentum Signal


The Breakout - Day 8
Some More Steam Left....?

The Nifty Futures opened near the yesterday's close and traded upwards with the help of the market heavy weight Reliance. However, the trading was confined to the range between the current week's high at 5145, achieved on Monday and the low of 5092.2, hit on Tuesday. At the time of the closing today, the futures were trading with a premium of seven points over it's underlying, the S&P CNX Nifty Index.

Nifty Futures - Daily Chart


Tuesday, March 9, 2010

Update on The Ultimate Momentum Signal


  The Breakout - Day 7
  Loss of momentum...?

The Nifty Futures opened near the previous close and traded without any upward momentum. It closed near the day's lows. The possibility of a consolidation or a small correction was indicated by the red candles seen on the two previous trading days and this possibility was mentioned in the previous post. The futures may get support at the range between 5000 and 5027 where the 10, 50 and 100 day moving averages are converging. Please see the chart below.

Nifty Futures -  Daily Moving Average Spectrum



The Updated Momentum Signal Spreadsheet 

Update on The Ultimate Momentum Signal


 The Breakout - Day 6
Some consolidation ahead..?

The Nifty Futures closed lower than the open values both on Monday and last Friday. Please see the two red candles on the chart. Most of the major equities were trading sideways on Monday, the 8th March. Is it an indication of a consolidation ?

Nifty Futures - Daily Chart
 

Sunday, March 7, 2010

Update on The Ultimate Momentum Signal

 The Breakout - Day 5
All izz well.......?

The Nifty futures traded sideways last Friday, indicating consolidation. Meanwhile, the US markets rallied further on the last Friday. The Nasdaq Composite index touched the previous Jan. 2010 high and the Dow Jones and the S&P 500 indices are trading around 100 and 10 points respectively off their Jan. 2010 highs. The VIX ( Volatility Index ) is almost at the post bear market lows. In London, the FTSE closed at a new high. However, the Asian markets except India are lagging the western markets at this phase. The India VIX also collapsed during the past week. We may see some more upside during the coming week.

S&P CNX Nifty Index - Daily Chart


The Ultimate Momentum Signal



 Frequently Asked Questions and the Answers

  • What is this blog all about?  This blog discusses the position trading of the Nifty Futures and Options by use of the "The Ultimate Momentum Signal", a proprietary multi-factor trading system and  it's risk management rules. This blog will also comment about Nifty heavyweights, markets, trading, psychology, risk management etc occasionally.
  • What is "The Ultimate Momentum Signal" ? 'The Momentum Signal' is an oscillator which travels between -100 to +100, wherein -100 indicates maximum downward momentum and +100 the maximum upward momentum.
  • What is the purpose "The Ultimate Momentum Signal" ? "The Signal" is primarily a momentum direction finder. It can be used as a single indicator to find (a) momentum shift, (b) continuation of momentum and (c) neutral momentum.
  • What is the benefit of finding out the above three states of the market ? These states can be used for (a) the entry trigger of a trade, (b) the management of the trade after the entry and (c) exit from the trade.

Thursday, March 4, 2010

Update on The Ultimate Momentum Signal

  
The Breakout - Day 4
A day of consolidation ?

The Nifty Futures traded sideways today indicating consolidation.

Nifty Futures - Daily Chart


The Updated Momentum Signal Spreadsheet 

Wednesday, March 3, 2010

Update on The Ultimate Momentum Signal

 The Breakout - Day 3

In spite of  the world markets trading sideways, today, the Indian markets rallied further on the strength of the market heavy weight Reliance and the midcaps.

 Nifty Future - Daily Chart
 

Tuesday, March 2, 2010

Update on The Ultimate Momentum Signal


 The Breakout - Day 2

As expected the follow up buying happened today and the Nifty futures closed at the high. There weren't any adverse news from the international scene too.

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of  2nd, March, 2010 is given below.

The Nifty Heavy Weights


The Heavies Revisited....!

The Nifty was trending down when we  visited the Nifty Heavies last time. Since the Nifty has broken out upwards, it is time for a revisit...!
Let us examine which issues  have the highest weights at present and where they are trading in relation  with their 200 day moving averages.
The following table shows the top fifteen heavyweights who have a combined weight of more than 65 % of the Nifty. They are the majority and so the Nifty moves to the direction of the heavies in general.

Nifty Heavies, Their Rank, Price And 200 Day Moving Average 

Monday, March 1, 2010

Update on The Ultimate Momentum Signal


   The Breakout.... at last.... 

 Nifty Future -  Daily




Nifty future has finally broken out of the tight trading range. The next resistances are at the 5010 to 5020 range corresponding to the 100 and 50 day moving averages respectively.