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 

The updated spreadsheet showing the Momentum Signal as on the close of   9th, March, 2010 is given below.

The Momentum Signal has returned the maximum value of +100 for the seventh 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 10th 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.  

Please note that the closing values required for a positive momentum have significantly moved  upwards and are very near to today's close.
Cheers and Prosperous Investing and Trading!!!

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