The Up-trend Continues !
The strong uptrend which started with a bear trap below the 5340 levels is continuing unabated with the Nifty futures contracts already in the gains for a straight fifth day. The contract is also approaching two minor highs at 5610 and 5622. Though the uptrend seems to be on a strong wicket now, it seems that some consolidation is in order as of now.
Nifty Futures - Daily Chart
Nifty Options Scene
The June series Nifty Options Put Call ratio ( PCR June series ) improved to a higher than normal 1.56 times on Monday.
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 20.44, 3.44 and 1.28 respectively as on 28th 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 momentum territory ( but area ) with value of 100 as on Tuesday.
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 29th 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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