The Nifty Heavy Weights

 The Nifty and it's Biggest Constituents Revisited....!

The S&P Nifty closed almost at a post bear market high of 5274 on 26th March, 2010. Now, let us examine the various moving averages of the index and it's biggest constituents. 

S&P Nifty - Daily Chart and Simple Moving Averages

Please click on the chart to enlarge. 

The 20, 50, 100 and 200 day moving averages ( DMAs ) of the S&P Nifty index are placed at 5136, 5019, 5032 and 4827 respectively as on 26th March, 2010.

And here is a table showing the name, weightage, closing price, and the 20, 50, 100, 200  DMAs of the ten biggest constituents of the S&P Nifty index. The last column of the table shows the closing price of the constituent as a percent of it's 200 day moving average.   

Nifty Heavies 

Please click on the table to enlarge.

The IT heavies, TCS and Infosys are quoting at prices which are 33.7% and 22.2 % higher than their 200 DMA respectively.  Tatasteel and HDFC Bank are also quoting at 24.3 % and 21.1 %  higher prices than their 200 DMAs. These four issues are leading the present uptrend . ICICI Bank and ITC ,which are quoting at 15.2 % and 10.5 % above their respective 200 DMAs, are the secondary leaders of the uptrend. The other Nifty heavies are quoting between 100 and 110 % percentage of their 200 DMAs.

Cheers and Prosperous Investing and Trading!!!

© 2010 momentumsignal.blogspot.com. All rights reserved.


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.

Update on The Ultimate Momentum Signal - 26th March, 2010

 The Breakout - Day 17

Shall We Test the Previous High....!

"The reports of my death have been greatly exaggerated. "

This is a comment supposed to have made by Mark Twain when someone queried him about some false news about his death.

Similarly, the present uptrend is still on and any news of it's end is also greatly exaggerated.  The Nifty futures opened lower in tandem with the Asian markets and later on rallied on Thursday, the expiry day. The current month futures closed at 5260. The next month futures closed at 5277 with a premium of 17 points.

On Thursday, the European and the US markets were trading at new  eighteen month highs on the news of a possible IMF backed rescue of the debt ridden Greece and infusion of fresh money by the Dubai government in to Dubai World. Meanwhile, Chairman Ben Bernanke of the US Federal Reserve reiterated that extremely low interest rates will persist for an extended period. All western markets are trading with positive momentum even though the eastern ones are a bit lagging now.

The Nifty futures may test the January, 2010 highs in the coming days. Meanwhile, it is reported that the turnover of the B Group shares have started exceeding the turnover of the bigger and higher capitalised companies in the Bombay stock exchange. Moreover, the advance decline ratio also seems to be a bit lagging the uptrend. These two factors are not very encouraging signs.

                        Nifty Futures - Daily Chart   

As the technical position of the market hasn't changed, the resistance and the trailing stop remains at the previously published levels of 5305 and 5170 respectively.

The Updated Momentum Signal Spreadsheet 

The updated spreadsheet showing the Momentum Signal as on the close of   25th March 2010, is given below.

 

 

The value of the Ultimate Momentum Signal has remained in the bullish territory for the seventeenth day after triggering a buy signal on the budget day, the 26th of February.

 Projected Momentum Signal Close Values

The projected levels of closing values required for momentum shift / neutrality / continuation as on the close  of trading  on 26th March 2010 are given in the table below. The table also include the projected closing values of BSE Sensex required for momentum shift / neutrality / continuation.

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

Please note that the minimum closing values required for keeping the Momentum Signal in the buy mode ( i.e. above +50 ) has gone up to 5275 and 5259 for the futures and the underlying index respectively and these values are approximately at the Thursday's closing values.

 

Cheers and Prosperous Investing and Trading!!!

You can use the free online Position Limit Calculator from here.

You can also checkout the five year history of The Momentum Signal Spreadsheet from here.

© 2010 momentumsignal.blogspot.com All rights reserved.


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.