google.com, pub-7808368332557457, DIRECT, f08c47fec0942fa0 The Ultimate Momentum Signal: 06/01/2010 - 07/01/2010

Wednesday, June 30, 2010

Update on The Ultimate Momentum Signal - 30th June, 2010

  The System Signals a Sell ... !

Even though it was expected that the Nifty Futures may test the resistance band, it was not to be ! The test of the resistance band had already happened on Monday itself ! In  the last post it was stated that "all major market indices barring the Indian and the German DAX are trading below their respective 200 day moving averages at present and therefore, the market may fail in the test of previous highs."  On Tuesday the Nifty Futures opened lower at 5322.80 and traded steadily lower  to reach a low of 5240.10 and finally closed  at 5268.50. The futures were supported by the regression channel on Tuesday's trading. However, The Momentum Signal system has already indicated a sell as on Tuesday's trading and therefore, it may break the support on Wednesday's trading. Once the  support line is broken it may also act as the next resistance line.

Nifty Futures - Daily Chart

 
The Stop Loss for the sell signal remains at the previous high of 5388. The next support for the futures are at the 5100 to 5150 range where many daily and weekly moving averages are situated at present. However, a new low in the western markets of US and UK may induce further weakness or even the much expected medium term correction. ( Please see the US S&P 500 chart below ). Even though the Indian markets are one of the strongest in the world, if and when panic sets in, all markets are sold off and the correlation between them even rises to the maximum.
 
World Markets

In Europe the FTSE, CAC and DAX closed with heavy losses of 3.10, 4.01 and 3.33 percents respectvely. The FTSE closed at an eight month low on Tuesday. 

US S&P 500 Index - Daily Chart at 11.00 PM IST


The widely followed US S&P 500 index was trading at six month lows of 1040 at  around 11.00 PM IST as seen in the above chart. The fear Index VIX was trading at 34 levels increasing around 15 % for the day.


Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as on the close of  29th June 2010, is given below.


The Momentum Signal  has indicated a sell as on close of the trade on Tuesday. It may also be noted that system had indicated an exit of all long positions as on the close trade on Monday. ( Please see the previous post for details ).


Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 30th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.


  Please click on the table to enlarge. For more info on the above table,  please click here.
 
A close below 5223 may indicate maximum negative momentum for the Nifty futures as on the close of Wednesday's trading. For the corresponding levels of the indices, please  refer to the table above. 

 

© 2010 momentumsignal.blogspot.com All rights reserved.

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.

Monday, June 28, 2010

Update on The Ultimate Momentum Signal - 29th June, 2010

  A Test of the Resistance Band Ahead ...?

In the last update, it was stated that the daily chart of Nifty Future has not yet lost the positive momentum as per the indication of the Momentum Signal system. In spite of the last week's all round weakness in the western markets and the occurrence of a bearish shooting star doji  candle in the Nifty index weekly chart, the futures opened positively on Monday and rallied to close at 5338.50. The market seems to be in the process of re-testing of the resistance band as envisaged in the last Friday's update. If the world markets do not give any negative shocks overnight, the Nifty futures may retest the previous highs. Meanwhile, the Momentum Signal has closed in the neutral territory requiring an exit of the long position with an approximate profit of 130 points. ( Please see the details in the Momentum Signal Table ).
Nifty Futures - Daily Chart


Even though the Momentum Signal has indicated neutrality, the futures may go either way as no clear direction of the market is available at present. It is customary for a market to spend some time just below the major resistances before deciding the way forward. If the world markets do not negatively affect the Indian markets, the markets can even trade to new highs. However, if the markets fall below the stop loss level of 5265 it may attract heavy selling.

World Markets

The European markets closed with gains after sustaining losses on most days last week. The FTSE, CAC and the DAX closed with gains of 0.50, 1.61 and 1.43 percents respectively. The US markets were trading absolutely flat at time of this post  at 11.30 PM IST. 

Meanwhile at the G-20 meet, the leaders declared the intention of advanced economies to cut their deficits by half by 2013. This will limit their bond issues and consequently the US bonds hit new highs. The spending cuts may lead to the weakening of the present recovery which was achieved  on the back of government and central bank support. Paul Krugman, a noted economist, has commented  that the planned spending cuts by the advanced economies may pave the way for the third depression.  ( To read the story, Click here ).    In case any readers are interested in what happened in the great depression of the 1930, at least from the technical analysis pint of view, click here to read an earlier post published in this blog titled " What If The History Repeats Itself? ".


Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as on the close of  28th June 2010, is given below.

The Entry and the Exit levels of the last trade in accordance with the Momentum Signal Trading system are marked in the above table. As has already been stated, the system has indicated an exit of long positions as of Monday.  

Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 29th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.
  Please click on the table to enlarge. For more info on the above table,  please click here.

Any higher closing at the end of Tuesday's trading may indicate a gain of positive momentum for the futures. However, a  signal supported by a close at a new high may induce higher confidence in the move.  All major market indices barring the Indian and the German DAX are trading below their respective 200 day moving averages at present . Therefore, market may fail in the test of previous highs too. 


© 2010 momentumsignal.blogspot.com All rights reserved.

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.

Sunday, June 27, 2010

Update on The Ultimate Momentum Signal - 28th June, 2010

    Make or Break Week Ahead ... !

Last week, the Nifty futures opened at 5325 with a positive gap and achieved a high of 5377.55. However, the futures reversed from the resistance band of 5360 - 5400 and closed even lower than the open at 5286.  The weekly chart of the S&P Nifty index shows a shooting star doji candle indicating further weakness. The European markets were in clearly in a short term downtrend as the indices have lost continuously for the last four trading days. The weekly charts of US market indices  have also shown bearish engulfing candles in the last week.

S&P Nifty  Index - Weekly Chart


As is seen in the above weekly chart, Nifty index has been trading in an ascending channel for almost ten months now. In case of a small correction the index may be supported by the confluence of weekly moving averages at around the 4150 levels.

Nifty Futures -  Daily Chart 


The stop loss for the existing long positions remains at 5265 ( i.e. High 5377.50 - 2.1 % of High ). As per the  Momentum Signal model, the futures has not yet lost it's positive momentum. However, Monday's trading may decide the fate of the present uptrend.  

Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as on the close of  25th June 2010, is given below.
 
 
The Momentum Signal has closed in the marginally positive territory  last Friday.

Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 28th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.
 
  Please click on the table to enlarge. For more info on the above table,  please click here.

The closing values required for a sell signal have increased and are even higher than the last Friday's close. However, if the markets recover and close higher than the last Friday's high, the positive momentum may continue.The probability of the system indicating a sell signal have gone up considerably. World markets have shown more weakness than the Indian markets in the past week. Traders may checkout the world markets for a reaction  to the ongoing G 20 meet and take cues for the market direction. 


© 2010 momentumsignal.blogspot.com All rights reserved.

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.

Saturday, June 26, 2010

Nifty Heavies Revisited .. !

  A Followup on Nifty Heavy Weight Stocks ... !


In the last edition of the Nifty Heavy Weights - "Which Nifty Heavy Weight Stocks to Buy .. ?", it was recommended that  ITC is the best buy among the top ten Nifty constituents.  It was also recommended that the stocks of  SBI, LT, HDFCBANK, INFOSYS, HDFC and ONGC are also having good positive momentum warranting long positions. As expected these stocks have out performed.   Now let's have a follow up of the Nifty and it's heavy weights.

Nifty and It's Heavy Weights

The top ten members of the S&P Nifty index, their weights, rank, closing prices and various daily moving averages are given in the table below. The corresponding close and the moving averages of the S&P Nifty index is also given in the table.


ITC remains the best performer in the pack and is quoting 17 % above it's 200 day moving average (  DMA ). Infosys, HDFC, HDFC Bank and ONGC too are quoting above their respective 200 DMAs by about 10 %. ICICI Bank is the worst performer and is quoting below it's DMAs. The Nifty index is quoting above it's 200 DMA by 4.17 %. Reliance continues to trade in the trading  range between 1000 and 1100 and is quoting very near to all it's DMAs.

S&P Nifty Index - Daily Chart


The Nifty index reached it's post bear market high in the first week of April, 2010. To make the visual analysis of the charts, regression channels are drawn in the above and all the following charts to show the general direction of trade since April high. As you can see from the chart above, the regression channel of the Nifty index is still moving slightly downward.

Reliance  


Even after the favourable settlement of the gas dispute with the ADAG group and the freeing of petrol prices and a promise to free diesel prices, the Reliance stock is still trading sideways. The present trading range seems to be 1000 to 1100. The stock has been trading in a slightly wider range for almost an year. 

Infosys


Even though the stock has not reached a new post April high, it remains as one of the out-performers. Also it remains as one of the least interest sensitive stocks along with ITC in the top ten Nifty Heavy weights.


ICICI Bank    


ICICI Bank is worst performer in the top ten list. It is trading in a downward slanting regression channel. This stock is showing more weakness in comparison to the other three interest sensitive financials in the top ten list viz. HDFC, HDFC Bank and SBI. Any further weakness in the general market may see the stock revisiting the 800 - 820 range.

LT   


LT joined the performers since the last quarter's results but may be affected in a rising interest rate regime. However, as of now, this stock has good momentum and may get support at 1680 to 1700 levels.

ITC


ITC still remains the best performer and it may be accumulated on any weakness at the 275 - 285 range. This is also the least interest rate sensitive stock of the top ten list. A normal monsoon as per the latest prediction of the IMD, will add further growth impetus to the stock.

HDFC


Even thorough HDFC stock may be interest sensitive, this is one of the rarest of blue chips which performs steadily  in all kinds of interest rate regimes. This stock also remains a favourite  of the  institutional investors and may be accumulated. This stock remains a buy around the 2700 levels.

HDFC Bank


Even though HDFC Bank is trading in a flat trajectory according to the regression channel study, it remains the best bank among the top ten list. This stock can also be accumulated at lower ranges of the regression channel if available.

SBI


Even though SBI has recently been an out performer with an upward slanting regression channel, the fact remains that it is an interest sensitive stock. The stock has been performing well recently, may be, because of it's sovereign backing and the receding fears of another dip in the economic cycle. 

ONGC 


Liberalisation in the pricing of petroleum prices and consequent reduction in the subsidy burden has made this stock an out performer. This stock may accumulated at around the 1200 levels.

BHEL


BHEL has re-entered the top ten heavy weights list and TCS has gone out. This blue chip is an interest sensitive to some extent and is still trading in the downward slanting regression channel.

Conclusion

As in the previous edition, ITC remains the numero uno stock of the top ten Nifty heavy weights for investment. ONGC, Infosys, HDFC and HDFC Bank too joins the list of best stocks for investment. LT may also be counted for investment at lower levels. Therefore the best performers list remains the more or less the same with the exclusion SBI. This recommendation is issued on the back of expecting interest rate tightening by the RBI in the ensuing months. 

The above conclusion and the recommendation are on the basis of recent momentum and are subject to changes from time to time. All usual disclaimers like 'past performance may not be sustainable in the future' etc are applicable too.

Cheers and Prosperous Investing !!!


© 2010 momentumsignal.blogspot.com All rights reserved.

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.

Thursday, June 24, 2010

Update on The Ultimate Momentum Signal - 25th June, 2010

   A Day of Indecision and a Long Legged Doji ... !

The Nifty futures traded in the positive territory in the morning session but declined later when the Europen markets opened with losses on the derivative settlement day, Thursday. However, the futures rallied in the last half an hour to close at 5320.50. In case the markets are unable to rally and test the highs again in the next two trading days, the present uptrend may end.

Nifty Futures - Daily Chart  



Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  24th June 2010, is given below.


The Futures and the index has closed with Momentum Signal values of  +100 for the ninth day in succession.

Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 25th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.

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

The closing values required for a sell signal are slowly increasing. The closing values required for a +100 momentum signal has gone up and are above the last closing values. This indicates deceleration in the momentum.
 
Due to the hospitalisation of a family member, only the limited updates of the system are provided for the time being. It is hoped that the regular  updates can be started in the next week.  The inconvenience to the readers is regretted. 
 

© 2010, momentumsignal.blogspot.com All rights reserved.

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.

Wednesday, June 23, 2010

Update on The Ultimate Momentum Signal - 24th June, 2010

  A Day of Consolidation ... !

Even though the Nifty futures opened lower and traded below the Tuesday's lows, it recovered and closed at the highs. However, it could make only small gains. The Technical position of the market has not changed by Wednesday's trading. Further, it is always normal for a market to spend some time below the previous highs before deciding which way to go. 

Nifty Futures - Daily Chart



Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  23rd June 2010, is given below.
 
 

The Futures and the index has closed with Momentum Signal values of  +100 for the eighth day in succession.

Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 24th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.
 
 

Due to the hospitalisation of a family member, only the limited updates of the system are provided for the time being. It is hoped that the regular  updates can be started in the next week.  The inconvenience to the readers is regretted.  
 

Cheers and Prosperous Investing and Trading !!!  
 


© 2010 momentumsignal.blogspot.com All rights reserved.

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.

Tuesday, June 22, 2010

Update on The Ultimate Momentum Signal - 23rd June, 2010

 A Day of Profit Booking .. !

Nifty Futures seem to have encountered the resistances band between 5360 and 5400, being the previous two highs.  Therefore, Tuesday was a day of profit booking. The Nifty future is supported by the upward moving regression channel as seen in the chart below.

Nifty Futures - Daily Chart




Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  22nd June 2010, is given below.


The Futures and the index has closed with Momentum Signal values of  +100 for the seventh day in succession.


Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 23rd June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.
 
    Please click on the table to enlarge. For more info on the above table,  please click here.

As per the above table, the positive momentum still rules high and the closing values required for a sell signal are still very far away.
 
Due to the hospitalisation of a family member, only the limited updates of the system are provided for the time being. It is hoped that the regular  updates can be started in the next week.  The inconvenience to the readers is regretted.  
 

Cheers and Prosperous Investing and Trading !!!  
 
 
© 2010, momentumsignal.blogspot.com All rights reserved.

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.

Update on The Ultimate Momentum Signal - 22nd June, 2010

Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  21st June 2010, is given below.



Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 22nd June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.


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

Due to the hospitalisation of a family member, only the limited updates of the system will  be provided for the time being. The inconvenience to the readers is regretted. 

Cheers and Prosperous Investing and Trading !!! 

© 2010, momentumsignal.blogspot.com All rights reserved.

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.

Saturday, June 19, 2010

Update on The Ultimate Momentum Signal - 21st June, 2010

Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  18th June 2010, is given below.
 



Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 21st June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.


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

Due to the hospitalisation of a family member, only the limited updates of the system will  be provided for the time being. The inconvenience to the readers is regretted. 

Cheers and Prosperous Investing and Trading !!!  
 



© 2010, momentumsignal.blogspot.com All rights reserved.

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.

Thursday, June 17, 2010

Update on The Ultimate Momentum Signal - 18th June, 2010

Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  17th June 2010, is given below.



Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 18th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.




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

Due to the hospitalisation of a family member, limited updates of the system will only be provided for the time being. The inconvenience to the readers is regretted. 

Cheers and Prosperous Investing and Trading !!!  
 

© 2010 momentumsignal.blogspot.com All rights reserved.


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.

Update on The Ultimate Momentum Signal - 17th June, 2010

Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  16h June 2010, is given below.


Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 17th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.


 

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

Due to the hospitalisation of a family member, limited updates of the system will only be provided for the time being. The inconvenience to the readers is regretted.

Cheers and Prosperous Investing and Trading !!!  
 


© 2010 momentumsignal.blogspot.com All rights reserved.

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.

Tuesday, June 15, 2010

Update on The Ultimate Momentum Signal - 16th June, 2010

Updated Momentum Signal Spreadsheet


The updated spreadsheet showing the Momentum Signal as on the close of  15h June 2010, is given below.


The Nifty Future has gained for the past five trading  days. The market may pause or encounter some mild profit booking in the next two trading days. 


Projected Momentum Signal Close Values

The projected levels of closing values corresponding to the momentum shift / neutrality / continuation as on the close of trading on 16th June, 2010 are given in the table below. The table also include the projected closing values of BSE Sensex corresponding to the momentum shift / neutrality / continuation signals.


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

Due to the hospitalisation of a family member, limited updates of the system will only be provided for the time being. The inconvenience to the readers is regretted.

Cheers and Prosperous Investing and Trading !!!  
 
 
© 2010 momentumsignal.blogspot.com All rights reserved.

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.