Good rally today

Blog meant for 7 March 2017 Tuesday

Dear friends,

Good rally for our markets today. Nifty traded positive right from the beginning and finally closed 66 points higher at 8963. However, the global cues are all negative in Europe and the US. We have to wait and see whether the global cues may affect Asian markets and our markets tomorrow.

So far in the last few months, our markets have been quite positive even when global markets have been weak at times.

The indications for short term are –

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

JUST BUY  or Hold – LUPIN (If you did not buy today, it can be still bought for short term if you have risk appetite since it went marginally higher today)

Just Buy – L&T, SBI,

Wait to Buy – MARUTI, ITC

DON’T BUY –  ONGC, HDFC

During the last few times, every time Nifty is coming very close to the 9000 mark, investors are booking profits by selling shares and thereby markets are falling a bit. However, it may be a question of time when markets go above the 9000 level and scale new heights. Currently, Nifty is at a 2 year high.

The Election results will be crucial to determine the short term direction of the markets.

As long term investors, we must just continue to invest on a particular date every month irrespective of the short term movements of the markets since we are interested in the long term growth of the shares. Long term investments are to achieve our goals of planning for major events of our lift such as our children education, children marriage and our retirement.

All the best!

Dr.Bharath Chandra