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 !!!
To access and/or download the free online Position Limit Calculator click here.
To checkout the five year history of The Momentum Signal Spreadsheet click here.
To checkout the five year history of The Momentum Signal Spreadsheet click here.
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.
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