Blog meant for 24 May 2018 Thursday
Dear friends,
Huge fall for our markets today mainly due to weak global cues in Asia and Europe. Nifty fell by 106 points to close at 10430.
Nifty is in Don’t Buy zone for short term.
The indications for individual stocks for short term only are –
DON’T BUY – MARUTI, TITAN, VEDANTA, RELIANCE INDUSTRIES, HDFC, AXIS BANK, HINDALCO
HOLD – TCS, ASIAN PAINT, INFOSYS, SBI
WAIT TO SELL – HDFC BANK
WAIT TO BUY – M&M
SELL – ITC, YES BANK
Vedanta share price has been falling during the last few weeks due to the protests against its copper plant in Tamil Nadu. We have to wait and see if this is temporary jolt for the company or it affects its future revenues.
As of now, nobody can say with certainty about the impact of the current protests by the local people.
We may know only when future revenues and profits are announced.
As of now, you can continue to hold and also invest for long term regularly. If we change our opinion about the same, we will mention in the blog sometime in the future.
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All the best!
Dr.Bharath Chandra and Rohan
