Another new high – Nifty at 9500

Blog meant for 17 May 2017 Wednesday

Dear friends,

Good rally for markets today as Nifty went by 67 points. This is another record life time high for the Nifty and the positive trend has continued so far. Global cues are mixed with no major movement on either direction.

Let us enjoy and profit from the rally as long as it is there. Since markets have been continuing to go up, a correct or consolidation is possible any time when some investors may book profits etc

As per 30 days moving average, Nifty is in Hold zone.
The indications for short term for individual stocks are as follows –

THE HOLDS ARE – L&T, HDFC BANK, MARUTI, ASIAN PAINT, M&M, SBI, HDFC,  TCS, Titan, INFOSYS

Wait to Sell – ONGC

Wait to Buy – Reliance,  AXIS BANK

Buy – ITC

Don’t Buy –  LUPIN, DIVISLAB, BHEL

Venture into short term trades only when you have the risk appetite to bear any risk from short term fluctuations. Otherwise, long term regular monthly investments are relatively safe and more profitable.

All the best!

Dr.Bharath Chandra