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

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   10th March 2010, is given below.
The Momentum Signal has returned the maximum value of +100 for the eighth 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 11th 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 an explanation of 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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