After opening up 40 points in the green, the Nifty closed 46 points down, giving up all the gains (to the second decimal point) of Tuesday. Volumes were about 11,300 cr. in cash, higher than the last few days but not impressive.
I’ve now added two P/E bands – the 18 and 12 P/E bands (universally considered upper and lower bounds of good valuation, even if last 7 year average for Nifty is about 19). This is historical standalone P/E; that is, trailing twelve months) and not consolidated earnings based.
(Thanks to dshort.com for the idea)
