The 5400 Support Holds for the Time Being !
- As indicated in the previous posts, the top end of the 5350 - 5400 support range has so far held and Nifty future have started recovering. But, the medium term trend is still downwards and the chances of it resuming are still there if the present recovery dissipates.
Nifty Futures - Intra-day Chart
Nifty Futures - Daily Chart
Nifty Options Scene
The May series Nifty Options Put Call ratio ( PCR May series ) decreased slightly to a below normal and bearish looking 0.64 times on Thursday. The below normal PCR may indicate the negative bias of the market.
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 20.20, 3.41 and 1.24 respectively as on 19th May 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 negative momentum territory with a value of -100 as on Thursday.
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 20th May, 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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