Market fall but may recover today due to positive global cues

Blog meant for 10 Nov 2016 Thursday

Dear friends,

It was a roller coaster ride for our markets. Markets opened extremely low and fell further but finally recovered closed only113 points lower. Nifty at some points was down almost 500 points.

The unexpected win by Donald Trump in the US Elections lead to market panic. However, markets recovered towards the end. In fact most people were predicting that Hillary Clinton will win the Elections and also that if Trump win, the markets would collapse. However, the European and US markets have gone up by around 1-2% as a positive sign.

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

Sell  –  M&M, HDFC 

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

There is a good chance of a rally for our markets due to positive global cues. Hence, all the fear of the Trump win has faded away and also the good news on steps taken to curb black money will help markets to rise.

It was a good opportunity to buy bluechips on Wednesday since many stocks collapsed massively initially and finally recovered by more than 5-6% during the day.

All the best!

Dr.Bharath Chandra

About the author

Dr. Bharath Chandra

Hi there! This is Dr. Bharath Chandra & Rohan, International Trainers & Success Coaches. We have addressed more than a crore people on Stock Market, Personality Development, Wealth Management and Financial Planning over the past 35 years.

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