Dull markets – no major action for short term

Blog meant for 19 Dec 2016 Monday

Dear friends,

A flat close for Nifty on Friday. It closed below the 8150 mark.

Since Christmas and New Year are coming up which are major holidays for most foreign investors, markets could be dull.

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

Buy – Maruti (although the graph is showing Buy indication, since Nifty is in Don’t Buy zone, you can either ignore it or Buy it if you have good risk appetite.

Wait to Sell – Axis Bank

Hold – Infosys, TCS

Don’t Buy – M&M, HDFC Bank

Wait to Buy – HDFC, Titan, L&T

Global cues were mixed last week. Let us see what happens in the new week.

All the best!

Dr.Bharath Chandra