Update for 1st June 2011

  Positive Momentum Remains Intact !

• The positive momentum remains intact in today's trading too. However, some slow down or a pause in the uptrend may be in the offing.
• Monday's buy signal has already generated a profitable excursion of 100 points in the Nifty Futures. 
• As the technical position is unchanged, this update is limited to the very basics.

  Nifty Futures - Intra-day Chart  

      Nifty Futures  - Daily Chart  

Update for 31st May 2011

    The Test of 20 DMA is On !

• Nifty futures closed flat yesterday, just below the 20 DMA.
• Generally speaking,  the 15 or 20 DMA acts as support or resistance in short term trends, in the daily  charts.
• As such, the positive scenarios described in the last post is dependable on a successful test of the 20 DMA by the Nifty future. As on Monday, the 20 DMA closed at 4480.

 Nifty Futures - Intra-day Chart    

 

      Nifty Futures  - Daily Chart