Market Losing Ground Again !
Nifty future and major indices closed in the neutral momentum territory as on yesterday. Yesterday's trading was also denoted by an inside day candle in the daily charts. Now, it seems that the market is starting to lose ground again as the low of the inside day candle is broken by the Nifty future. If no recovery is ensuing in the short term, especially from the minor support around the 5480 levels, Nifty future may revisit the lower end of old trading channel.
Nifty Futures - Intra-day Chart
Nifty Futures - Daily Chart
Nifty Options Scene
The June series Nifty Options Put Call ratio ( PCR May series ) was hovering at a very normal 1.33 times on Wednesday. The PCR as such is not showing any negative bias to the market as of now unlike in the previous month.
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 20.41, 3.43 and 1.28 respectively as on 8th 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 moved to neutral territory 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 9th 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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