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Friday, June 3, 2011

Update for 3rd June 2011


    Market Remains Resilient !


  • Nifty futures and the market as a whole have retained the positive momentum as proved by the new swing highs today morning.
  • We had indicated that if the market does not recover in two trading days, the uptrend might dissipate away. Though market has recovered, it might find resistance just above today's trading range in the 5600 to 5650 area. Please read the post dated 30th May for a detailed analysis.   
    Nifty Futures - Intra-day Chart  



  Nifty Futures  - Daily Chart 


 
  Nifty Options Scene   

The June series Nifty Options Put Call ratio ( PCR May series ) was hovering at a very normal 1.44 times on Thursday. The PCR  as such is not showing any negative bias to the market as of now unlike in the previous month.


 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 20.49, 3.44 and  1.23 respectively as on 2nd June 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 remained in the positive territory  with a value of  100 as on Thursday. 

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  3rd June, 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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