More Consolidation or a Mild Correction ?
- As expected, Nifty futures encountered resistance between 5950 and 6000 and spent time on consolidation yesterday.
- Major lower support for the Nifty contracts are at the 5700 to 5750 levels.
- Above these levels, minor supports are available at 5800 and 5850.
- Please note our the preferred view for the market is for some more consolidation between the 5700 and 5950 levels in the the immediate future.
- This late update of the Momentum Signal trading system contains only the basics of the system due to some time constraints. Please bear with the author.
Nifty Futures - Intra-day Chart
Nifty Futures - Daily Chart
Nifty Options Scene
Nifty 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 22.36, 3.74 and 1.06 respectively as on 6th 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 Signals have closed with the maximum +100 values for the tenth day in succession 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 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 !!!
Disclaimer: No research, information or content contained herein or in the accompanied spreadsheet shall be construed as advice and is offered for information and educational purposes only. We shall not be responsible and disclaim any liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered by the user or any third party as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information or service provided. All files/information is provided 'as is' with no warranty or guarantee as to its reliability or accuracy. We do not recommend, promote, endorse or offer any guarantee whatsoever in respect of any services or products offered in the advertisements displayed on the site by Google AdSense.
No comments:
Post a Comment