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