Markets cheer BJP victories

Blog meant for 19 Dec 2017 Tuesday

Dear Friends,

Nifty closed 55 points higher after a very volatile day. Towards the first hour, markets were down by more than 200 points. It was down due to initial fears that BJP may not get a victory in Gujarat & Himachal Pradesh. However, as it started becoming clear that BJP would get a majority, markets recovered and finally closed quite strong.

Similarly, all major markets in Asia, Europe and US are positive tonight.

The analysis for short term as per technical analysis is as follows:

Nifty is in Buy zone. The indications for individual stocks are –

THE HOLDS ARE- MARUTI, INFOSYS, TITAN, M&M, HDFC Bank, RELIANCE, HDFC, ITC, AXIS BANK

THE DON’T BUYS ARE – ASIAN PAINT, TCS

BUY – VEDANTA

WAIT TO BUY – SBI, HINDALCO

WAIT TO SELL – YES BANK

Markets seem to be quite strong. It is once again approaching all time highs. We have to wait and see if new highs will be touched or markets will face profit booking.

Long term investors who are investing on monthly basis should continue to do so in the bluechips companies.

Do not get carried away by the short term rise and sell unnecessarily. The profits you can and will make from long term investing will be much higher than any short term you make.

All the best!

Dr Bharath Chandra and Rohan

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(The above comments are only the personal views of the authors of this blog. Please do your own research before taking any investment decisions. The reader of this blog must understand and take full responsibility for the Profit or Loss made by taking actions based on the above views)