MO hit -134 in today’s trades. On Friday it was at -108. Earlier this evening RM, ran an excel on the performance of the MO between 2007 and 2009 when Nifty was trading in an extremely volatile range. In those 3 years, we got an MO reading of -160 on 22/01/2008 and another MO reading of 178 on 15/04/2009. So it can rock higher than -100 to +100 and these are times when it moves in another regime so to speak.
We also noted that every time MO crosses -100 or +100 kind of levels, it remains in that zone for 3-5 sessions. Here are the past readings.
The above are readings only for a period between 2007- 2009.