Thursday, April 21, 2011

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 




   Nifty Options Scene   

The April series Nifty Options Put Call ratio ( PCR April series ) increased to 1.25 times on Wednesday.

 Nifty Trailing Fundamentals    


The trailing Price Earnings Ratio  ( PE Ratio ), Price to Book Value ( PB Ratio ) and Dividend Yield ( DY Ratio ) of the Nifty Index  were at 22.06, 3.71 and  1.07 respectively as on  20th April, 2011.  ( More information and a long term analysis on Nifty historical valuation are available from the "Nifty Fundas" page ).


 Latest Ultimate Momentum Signal 


The Momentum Signal has closed in the neutral territory at -20 as on Wednesday.


Projected Momentum Signal Close Values

The projected levels of Momentum Signal values applicable to various ranges of closing values of the current month Nifty Futures, Nifty Index and the BSE Sensex,  as at the close of next trading day, ie. as on 21st April, 2011, are given in the following table. All readers are requested to take note that the table below is just a ready reckoner for the next day's Momentum Signal values and the figures are not intended to be interpreted as any targets for the Nifty futures or indices shown therein.
 
 
Click on the table above for an enlarged view.


Readers are also requested to go through The Signal, Entries and Exits, Position Limits, Risk Factors, Risk Analysis,  and FAQs pages to gain a reasonable understanding of the trading system. Please do post your  comments and suggestions on how new  posts can be made more useful.

Cheers and Prosperous Investing and Trading !!!

 
 
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