Holiday season keeps markets dull

Blog meant for 26 Dec 2016 Monday

Dear friends,

Nifty closed slightly higher on Friday but still below the 8000 mark. The global cues still remain weak especially since the overall trading turnover would be lesser due to vacations for most people abroad.

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

Hold – Infosys, TCS, Maruti

Don’t Buy – HDFC, Axis Bank, M&M

Wait to Sell – Maruti

Wait to Buy – HDFC Bank, L&T, Titan

All stock markets have been struggling in the last 2 weeks due to no momentum. It could become more active only once the New Year arrives. Hence, for this week, markets may continue to be dull.

Hopefully, the next Year is going to be good for the markets and for our Professions. The Central Government is proposing a lot of reforms. Lets hope that it helps all the citizens of the country.

Just continue to invest for long term and avoid short term trades for now.

All the best!

Dr.Bharath Chandra