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!!!
You can use the free online Position Limit Calculator from here.
You can also checkout the five year history of The Momentum Signal Spreadsheet from here.
You can also checkout the five year history of The Momentum Signal Spreadsheet from here.
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.
No comments:
Post a Comment