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.

The Momentum Signal has returned the maximum value of +100 for the ninth 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  on 12th 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 closing values required for a positive momentum have significantly moved  upwards and are just below the trading range of the current week.

Cheers and Prosperous Investing and Trading!!!

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