Just wait – no action for short term

Blog meant for 29 Nov 2016 Tuesday

Dear friends,

Nifty moved in a particular range the entire day and finally closed marginally higher, up 13 points. The major European markets have closed down by 1% and the US markets are trading slightly negative as of now.

The markets are not finding any major reason for a sustained rally and hence it is staying weak. It could be a forced consolidation due to the demonetisation, the expectation and high probability of an interest rate increase in the US. All this has resulted in Indian markets along with many of the Asian and European markets to trade weak.

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

Don’t Buy – Titan, L&T, Maruti, HDFC, M&M, Axis Bank, HDFC Bank

Just Buy – Infosys (better to wait for some more time until we can be sure of overall upward trend for the markets)

Sell – TCS

It was good that we waited before taking a decision to buy TCS for short term since it fell today and is showing a Sell indication.

The Students Workshop (12-19 years) has been scheduled from 23-27 Dec 2016 in Bangalore during the Christmas vacations. Some of the main topics are Improving Memory & Concentration, Studying Skills, Rapid Reading, Listening Comprehension, Public Speaking, Improving Maturity levels, Personality Development, Behavioural Modification etc.

Registrations are already underway. For Early Bird Offers, please call +91 9632443333 or email successdigest@gmail.com. Hurry for registrations since there are Limited Seats at the venue.

All the best!

Dr.Bharath Chandra