Update for 21st April 2011

  A Test of the 5925 - 5950 Resistance Imminent ?     

• Nifty future has reversed from the first support area of 5700. This may lead to an imminent test of the 5925 - 5950 resistance area. 
• A significant break out above the resistance area may lead to a rally of some 200 to 250 points or even a test of the all time highs in the medium term.
• However, some more sideways trading in the present trading range is also a realistic scenario due to the imminent interest and petro price hikes, corporate results and other uncertainties.
• This edition of the Momentum Signal update is also a shortened one due to some limitations. 

    Nifty Futures - Intra-day Chart

Nifty Futures  - Daily Chart 

Update for 20th April 2011

  Nifty Hangs On to the 100 & 200 DMAs !    

• As indicated in the previous posts, Nifty future has not broken the support of 5700 - 5750 area where the 100 ( 5716 ) and 200 ( 5740 ) day moving average are placed at present.
• Nifty futures may spend some more time trading between the 5700 - 5950 area, provided the above support holds.
• In case of a break of the support , another revisit of the 5550 to 5600 area is feasible.
• This edition of Momentum Signal post is also limited to the very basic charts and trading system updates.

    Nifty Futures - Intra-day Chart

Nifty Futures  - Daily Chart