Update on The Ultimate Momentum Signal - 15th Sept. 2010

 Time for a breather after the scorching rally .. ?

The markets had a stupendous rally in the last ten trading days. In fact the trading range of the last ten days has a span of almost 500 points. Now, the question is whether the time to take a breather has arrived ?  The advance decline statistics  for the day as seen in the TV seems to suggest that some profit booking  has been done on Tuesday. The intraday correction from the 5845 levels also suggest that a consolidation may be in store in the short term. However, the bullish momentum of the breakout remains intact until proven otherwise.

   Nifty Futures - Daily Chart     

The trading stop for long positions under the Ultimate Momentum Signal system remains at  5722 ( i.e. 5845 minus 2.1 % of 5845 ). 

Updated Momentum Signal Spreadsheet

The updated spreadsheet showing the Momentum Signal as at the close of the trading on  14th  September, 2010 is given below : 

 

 

Nifty futures and the tracked indices have closed with the maximum upward Momentum Signal values of +100 for the sixth consecutive day.

Projected Momentum Signal Close Values

The projected levels Momentum Signal values applicable to various ranges of closing values of the Nifty Futures, Nifty Index and the BSE Sensex,  as at the close of next trading day, ie. as on  15th September, 2010, are given in the following table.

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

 

Cheers and Prosperous Investing and Trading !!!

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