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Update for 31st December 2010

  Derivative Expiry Over, But What Now ?

Profit of 140 Points in the Last Trade : This author is happy to announce that, on expiry of the December series Nifty futures contracts, the last buy signal indicated by the Momentum Signal Nifty trading system has made a profit of 140 points. For non-regular readers of this blog, here is a retake. The last buy signal in the Nifty futures was indicated by the Momentum Signal trading system on 16th December, 2010 at the 5960 level. Since the contract expired at 6103, the long position has made a profit of 140 points in the December series Nifty futures. Now, here are the best things about the trading system. It comes free. It does not require any  registration or payments. Just check the updates to find when the momentum shifts and follow the trade management rules availble on the site. The Momentum Signal values applicable to various closing values / ranges of Nifty futures, S&P Nifty and BSE Sensex are also made available one day before the trade date.  

Nifty futures opened flat on Thursday and immediately went in to the positive territory. However, as is usual in these low volume low volatility markets, the gains were limited. The contract kept on trading below the  6090 reference level for most of the morning session. Unable to break above the 6090 level, Nifty futures also tried to test the supports, in the middle of the morning session. However, it recovered from the adjusted close of the previous day. In the last half an hour of trading, Nifty futures broke above the 6090 level  and closed at 6103.

     Nifty Futures - Intra-day Chart