7th consecutive day Nifty falls

Blog meant for 23 Dec 2016 Friday

Dear friends,

Nifty fell for seventh consecutive day and closed 82 points lower. All the global cues are also negative and hence it is making it harder for our markets to recover.

Nifty is in Don’t Buy zone. As per 30 days moving average graph, the following are the indications for short term –

Hold – Infosys, TCS

Don’t Buy – HDFC Bank, HDFC, Axis Bank, L&T, M&M, Titan

Wait to Sell – Maruti

Nifty is at a 1 month low and it is looking like markets may pick up only in the New Year. Bluechips have fallen further and have become cheaper. Do not hesitate to invest for long term when markets are falling.

All the best!

Dr.Bharath Chandra