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 !!!  
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