Markets rise but still in Don’t Buy zone

Blog meant for 6 Dec 2016 Tuesday

Dear friends,

Nifty closed 42 points higher on Monday after a volatile day of trading. The global cues are also positive with European and US markets closing higher.

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

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

There needs to be a sustained rally for markets to enter Buy zone. So far, in the last few days, markets have been moving like a see-saw and not making any continuos upward move.

Let us see what happens today. Also, the RBI monetary policy meeting is tomorrow where there is a possibility of a slight interest rate cut.

All the best!

Dr.Bharath Chandra