Last minute recovery for markets

Blog meant for 15 Dec 2017 Friday

Dear Friends,

Last minute recovery pushed Nifty to positive territory. It was trading negative for most of the day but somehow managed to move up and close 59 points higher.

The global cues are mixed with US markets, European markets negative while some Asian markets positive. Our markets are looking positive because of the expectation of BJP victory in Gujarat elections. We have to wait and see what happens once the election results ate announced on 18 Dec.

The analysis for short term as per technical analysis is as follows:

Nifty is in Wait to Buy zone. The indications for individual stocks are –

THE HOLDS ARE- MARUTI, INFOSYS, TITAN, M&M, HDFC Bank,

THE DON’T BUYS ARE- VEDANTA, HINDALCO, SBI, ASIAN PAINT, TCS,  YES BANK

JUST BUY –  RELIANCE (it can be bought if you have risk appetite)

WAIT TO BUY – AXIS BANK

JUST BUY – HDFC Bank, HDFC (these shares can be bought if you have risk appetite or you can wait for another day and then decide whether to buy or not based on market movement)

TOO LATE TO BUY / HOLD – ITC

In the last few days markets have been very volatile. This is the reason some of the stocks have been entering Buy zone but then very quickly showing Sell indication. The markets are expected to continue to be like this until there is more clarity on election results.

Also, if the election results comes slightly below expectation or there is any surprise, the markets may become nervous and become weak in the next week. Lets wait to see what happens.

——–

All the best!

Dr Bharath Chandra and Rohan

Please do not comment on the blog. Any questions or clarifications can be asked by sending us an email with your registration number given to you during the Workshop. Questions without quoting registration number will not be answered.

(The above comments are only the personal views of the authors of this blog. Please do your own research before taking any investment decisions. The reader of this blog must understand and take full responsibility for the Profit or Loss made by taking actions based on the above views)