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Thursday, August 4, 2011

Update for 4th August 2011



A Test of Resistance is On ?

After the gap down open on yesterday, Nifty futures didn't suffer much damage.  Volumes at the lower end seemed to be low and it lead to a short term reversal. The market action also lead to the formation of an inverted hammer kind of candle in the daily charts. Though the technical position has not changed much, it seems that the market is in the process of testing the resistances above. The immediate outlook for the market depends on the outcome of this test. Day before yesterday's low, close, high etc can become the important reference points on this test. 

Nifty Futures Daily Chart   

  


Nifty Options Scene   

The August series Nifty Options Put Call ratio ( PCR August series ) closed 1.01 times as 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 19.42, 3.33 and 1.27 respectively as on 3rd August 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 moved to the sell territory as on 3rd August, 2011. 

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 next close, ie. as on 4th August, 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 AboutThe 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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