Flat close for markets

Blog meant for 12 May 2017 Friday

Dear friends,

Nifty rallied well in the first half of the day but finally closed only marginally higher at 9422. Global cues are mixed tonight. In the last few days, markets have been almost moving up gradually except rare days when some profit booking may be taking place.

We have to see how high markets can go. Many investors are expecting 10,000 level in the Nifty. However, it may not be so easy for it to reach that level. It may take some time and markets may consolidate on its way to higher levels.

As per 30 days moving average, Nifty is in Hold zone.
The indications for short term for individual stocks are as follows –

THE HOLDS ARE – L&T, HDFC BANK, MARUTI, ASIAN PAINT, M&M, SBI, AXIS BANK,  HDFC,  Titan

Wait to Sell – BHEL

Sell – ONGC, DIVISLAB

Wait to Buy – Reliance, TCS, ITC

Don’t Buy –  INFOSYS, LUPIN

All the best!

Dr.Bharath Chandra