Update for 5th May 2011

   Momentum Signal Trading System Update

• This update is a very short one due to paucity of time.

    Nifty Futures - Intra-day Chart

   Nifty Futures  - Daily Chart 

   Nifty Options Scene   

The May series Nifty Options Put Call ratio ( PCR May series ) deteriorated to a below normal and bearish looking 0.78 times on Wednesday. The deterioration in the PCR may indicate the negative bias of the market. 

Update for 4th May 2011

  Finally RBI Takes ( Late ) Action

• Nifty future has sold off as envisaged in the Monday's post, following the first firm action taken by the RBI against runaway inflation which has been running high uncontrolled hitherto, as both the central bank and the government were doing only some lip service on the inflation fighting front.

• If the present downtrend holds, Nifty futures may revisit the 5400 levels in the medium term. However, the contract may get support at the 5450 to 5500 area in the short run.
• This update is also limited to just the usual trading system data and charts.

    Nifty Futures - Intra-day Chart

   Nifty Futures  - Daily Chart