Trading NIFTY with fundamental insights?

I have been purely trading Nifty based on TA.

I would like to incorporate fundamentals data too but this is a brand new area to me.

Usually opening price is influenced by big money, they all react to fundamental insights, for instance SGX Nifty usually picks the steam of the day even before NSE starts, so these guys are trading fundamental insight unlike retail TA traders.

If I want to apply fundamental analysis to NIFTY, what should I be tracking? Can someone throw some pointers for relevant information and links?

Here are few things I think can be useful if tracked (but have not fully tried myself):
* interest rates
* election results
* USD INR and index correlations

Unless there is huge gap opening or violent price breakout in USD INR, Nifty doesn't care much about its day to day fluctuations. BNF is bit more sensitive.

Interest rates, on the other hand, has lasting effects on industries thereby on economy, surely they pack nasty punch for indices.

Election results, like modi wave, are a rarity. But yes, they do impact markets for short to medium term. Markets normally retrace 80% of gains, depending on how soon the election promises get forgotten or modified which happens almost100% of the times.

All in all, stick with TA trading and keep an eye on international markets. Also not to forget that every geopolitical or financial news has effect on indices, especially emanating from or involving USA.

Nifty P/E ratio

http://www.nseindia.com/products/content/equities/indices/historical_pepb.htm
http://craytheon.com/charts/nifty_pe_ratio_pb_value_dividend_yield_chart.php

Crude Oil impact on Nifty

http://www.moneycontrol.com/news/co...brent-crude-vs-niftypast-3-years_1176465.html