Wednesday, August 4, 2010

Nifty closes at top of M1 - Nifty PE Ratio @ 23.07

Today(4-8-10)Nifty opened at 5451 with a gain of 11 points, moved in the range 5428 - 5453 till 15.00, added 35 points thereafter to touch 5482 and closed at 5468 with a gain of 28 points at the top of M1(5464). At closing, Nifty PE Ratio is @ 23.07 which is beyond the normal range. It is high time for ordinary retail investors to keep away from the market. Those who are holding stocks at 2007 levels can utilise this opportunity to exit. Nifty futures range was 5422 - 5472. Tomorrow's Agni level is at 5447.

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