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 !!!  

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