Update for 30th March 2011

   A Belated Update of the Momentum Signal Trading System

Due to a massive power outage from yesterday morning which continues even now and the consequent system failure, this update is published late and contains only the basics of the system. The inconvenience caused to the regular readers is regretted.   

   Nifty Futures - Intra-day Chart

 Nifty Futures  - Daily Chart 

Update for 29th March 2011

   Nifty Futures Poised at the 200 DMA !

• Nifty futures opened flat on Monday morning and moved upwards with the help of it's positive momentum  retained form the previous week.
• As pointed out in the previous post, Nifty future has already reached the 200 DMA at the 5700 levels. As indicated in the previous post, some more profit booking may come in to the market at these levels. 
• Moreover, the market has already made strong gains continuously for the past five trading sessions. It is not very common for the major stock indices to make straight gains for more than five to six trading days.
• These two factors may now lead to some kind of a consolidation or a mild correction happening in the market. 
• However, the market remains in a 'buy on decline mode' as of now due to the presence of the recent positive momentum. 

   Nifty Futures - Intra-day Chart

Nifty Futures  - Daily Chart