Blog meant for 27 Oct 2016 Thursday
Dear friends,
Weakness in global markets continued today as Nifty fell by 76 points. The Asian, European and US markets are all trading lower today.
The financial results of many companies have been below expectations and hence the respective stocks have fallen as a reaction to the negative news.
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, HDFC, M&M, Titan, HDFC Bank, Infosys
Wait to Sell – L&T, TCS
Hopefully, the dullness in the economy is resulting reduction in business growth in companies. As the economic situation improves, automatically business of the companies will improve and hence individual stocks and the overall markets will rise.
The weakness may continue tomorrow also unless Asian markets open in the green and our markets are somehow able to trade flat or slightly positive.
All the best!
Dr.Bharath Chandra
