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. 

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