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Thursday, July 7, 2011

Update for 7th July 2011


    Three Days of Consolidation and What Now ?

After three days of consolidation in the form of sideways trading, Nifty futures contract is seen trying to test the resistances today morning. It is almost impossible to outguess the outcome of this test as of now. Apart from the above, there is no change in the technical position of the market. Please read the previous posts for more analysis on support and resistances. A breakout above the immediate resistance in the 5700 - 5750 area is necessary for the continuation of the rally and a change of outlook for the medium term. A failure may lead to a revisit of the 5550 levels in the short term.  

Nifty Futures - Daily Chart    




Nifty Options Scene   

The July series Nifty Options Put Call ratio ( PCR July series ) closed at a normal 1.29 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 20.74, 3.48 and  1.26 respectively as on 6th July 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 momentum territory ( but area )  with  value of 100 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 7th July, 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 About, 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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