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
The Updated Momentum Signal Spreadsheet
The updated spreadsheet showing the Momentum Signal as on the close of 8th, March, 2010 is given below.
The Momentum Signal has returned the maximum value of +100 for the sixth consecutive day.
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 9th 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.
The closing values required for a neutral momentum or the reversal of the momentum signal have started to move upwards.
Cheers and Prosperous Investing and Trading!!!
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