As we are well into 2016 I thought it would make sense to look at the technical and fundamental snapshot of the Indian stock market #Nifty index. First the technicals. For this I turn to Brahmesh at Brahmesh Technicals. The Nifty has had a bullish break out over the 8000 mark. It is now turning down from old highs near 9000:
Next the fundamentals, for this I turn to Sanjay Jaiswal at Market Pulse for the daily updated trailing #P/E ratio on the Nifty. As you can see below despite the recent fall it stood above 20.0. The market is obviously overvalued at an earnings yield of less than 5.5%:
Support: 8000
Taken together the market appears over extended and ready for a fall both on technical and fundamental grounds.
Next the fundamentals, for this I turn to Sanjay Jaiswal at Market Pulse for the daily updated trailing #P/E ratio on the Nifty. As you can see below despite the recent fall it stood above 20.0. The market is obviously overvalued at an earnings yield of less than 5.5%:
Support: 8000
Resistance: 8400
Taken together the market appears over extended and ready for a fall both on technical and fundamental grounds.
Nifty Fundamental and Technical Snapshot http://t.co/pvruEj2HB3 pic.twitter.com/efIXg4BfRD
— samuelR (@RajveerRawlin) September 6, 2015
Nifty Opening Gap Down might test its current week low of 7780
ReplyDeleteARCHIVE 18 May, 2016
Stock Market Today by Shailesh Saraf – 18th May 2016
Indian Market Outlook:
Nifty tested its multiple resistance zone from 7930 to 7950 yesterday. After making a high of 7957 in the second half Nifty reversed from its resistances to make a low of 7896 and closed at 7907. Today, Nifty is expected to open further gap down by 30 points at 7878 as per SGX Nifty at 8:45 am IST.
International Market Outlook
Oil prices are trading near 2016 highs on Wednesday, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still weighing on markets. S&P shed off the gains of 16th may yesterday after falling 36 points from its high yesterday to currently trade at 2015. In the Asian markets, Nikkei is testing its previous week high of 16804, which is also its range high. Hangseng and Shanghai Composite of China have already corrected from their range highs yesterday to make new lows today morning. The morning action signal a weakness in the global markets.
For more details go to
https://www.dynamiclevels.com/en/shailesh-saraf-stock-market-today-180516
Found this on Google and I’m glad I did. Well written article. mdu result
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