Blog meant for 2 Nov 2016 Wednesday
Dear friends,
Flat close for Nifty at the end of the day. Global cues are extremely weak and hence our markets have open in negative territory. It is mainly due to the uncertainty of who may win the US Elections.
Nifty is still in Don’t Buy zone. As per 30 days moving average graph, the following are the indications for short term –
Hold – Maruti
Don’t Buy – Axis Bank, M&M, Titan, Infosys, TCS
Sell – L&T
Wait to Buy – HDFC Bank
Too late to Buy – HDFC (it went up by around 3 % and has gone too much above red line. The Buy signal can be ignored because it could be too late to Buy. Also, since global cues are weak, it may fall today).
Just observe markets. Do not taking Buying action.
All the best!
Dr.Bharath Chandra
