Markets still weak

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

About the author

Dr. Bharath Chandra

Hi there! This is Dr. Bharath Chandra & Rohan, International Trainers & Success Coaches. We have addressed more than a crore people on Stock Market, Personality Development, Wealth Management and Financial Planning over the past 35 years.

View all posts