Exit Polls will determine market direction

Blog meant for 10 March 2017 Friday

Dear friends,

Nifty closed flat in expectation of the exit polls results. The exit poll results are predicting a victory for BJP in Uttar Pradesh, Goa & Uttarkhand. This is positive since the popularity of the ruling party in the Centre is still popular in the States too. However, we have to see how the markets react to the exit polls results and also on Monday once the Election results are announced on Saturday.

Asian markets are mixed with some trading positive and others negative. The direction of the markets will be based on how the markets perceive the exit polls results.

The indications for short term are –

THE HOLDS ARE – TITAN, HDFC BANK, BHEL, TCS, INFOSYS, RELIANCE, AXIS BANK, ASIAN PAINT,

Wait to Sell – M&M, DIVISLAB

Buy – SBI

Wait to Buy – MARUTI

DON’T BUY – HDFC, ITC, LUPIN, ONGC, L&T

Today and Monday are crucial days for markets to see how Election results will affect direction of the markets.

All the best!

Dr.Bharath Chandra