In this paper a new noninvasive method is proposed for automated estimation of opening and closure timings of fetal cardiac valves. These timings are obtained from Doppler Ultrasound (DUS) signal and fetal electrocardiogram (fECG) as a reference. Empirical Mode Decomposition (EMD) is first applied to the DUS signal to decompose it into different components called Intrinsic Mode Functions (IMFs). The envelope of the first IMF is then taken and its peaks are identified. The opening and closure of the valves are then automatically assigned to the IMF peaks by using Hidden Markov Model (HMM). It is shown that this new method can continuously evaluate fetal cardiac valves' (aortic and mitral) motion timings for 82.5~99.7% of cardiac cycles. The estimated timings are verified using the Pulsed Doppler images. These findings can be used as sensitive markers for evaluating the fetal cardiac performance.