Monday, April 26, 2010

Update on The Ultimate Momentum Signal - 27th April, 2010

   
The Futures Ends Higher, But In The Neutral Territory...!

Following the strong cues from the Asian markets, the Nifty futures opened above the Thursday's  high of 5342 and traded lower from thereon.  Even though the European markets were also trading higher, the futures traded lower to test last  Friday's closing price of 5313  and finally closed at 5320. The future has closed  in the neutral territory indicating exit of the long position as per the buy signal  indicated on last Friday. This possibility was also pointed out in the last post.
Monday's trade was confined to a small range of 35 points. In this process, the future has closed higher for the past five trading sessions and therefore we may expect some lower closings also in the next trading days. Barring unforeseen circumstances, the derivative expiry on Thursday could be at the top end of the recent trading range for the simple reason that the last week's sell off seems to have failed.

Nifty Futures - Daily Chart         


The Asian markets seem to have started to trade higher. The European markets have also closed higher at the time of wring this post. The US markets were trading with positive to neutral bias at 11.15 PM IST. 

The Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as on the close of  26th April 2010, is given below.


 The Momentum Signal has closed in the neutral area.


Projected Momentum Signal Close Values

The projected levels of closing values corresponding to momentum shift / neutrality / continuation as on the close of trading on 27th April, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to momentum shift / neutrality / continuation.

   Please click on the table to enlarge. For more info on the above table,  please click here.

As you can see from the table above, the minimum closing  values required for the  triggering of  a buy have  moved downward.  The triggers for the resumption of the downtrend has also increased.

Cheers and Prosperous Investing and Trading !!! 
 

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