Markets still confused over direction

Blog meant for 15 September Friday 2017

Dear Friends,

Once again a flat close for Nifty today as it closed 7 points higher 10087. The global cues were mostly negative in Asia. Also, as of now, European and US markets are also trading marginally negative tonight and hence it could affect our markets tomorrow.

The technical analysis is as follows.

THE HOLDS ARE- ASIAN PAINT, HDFC, HINDALCO, MARUTI, RELIANCE, TITAN, VEDANTA, YESBANK, LARSEN, HDFC BANK, ACC

DON’T BUYS ARE- INFOSYS, SBI, M&M

WAIT TO BUY – TCS

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Question of the Day

Question – Can we invest bitcoin / crypto currency?

Answer – Bitcoin is a global virtual currency and a digital payment system. It is not required to go into full details of what it is and how it works.  However, it is a very volatile instrument which is not suitable for majority of investors.

Also, Indian government has neither accepted nor rejected its legality. Yesterday, the RBI has said that it is not comfortable with bitcoins. The article can be read here – http://www.thehindu.com/business/Industry/rbi-is-not-comfortable-with-bitcoins-says-sen/article19677964.ece

A lot of Multi-level Marketing (MLM)/ Chain marketing schemes  have been created using Bitcoins so as to attract many investors. They state that money can be multiplied very quickly and regular, guaranteed returns are assured for investors. However, investors need to be very careful and stay away from such schemes.

You can also read this – https://factordaily.com/amit-bhardwaj-gbminers-bitcoin-ponzi-scheme/

For safety purposes, stay away from such investments which seem ‘too good to be true.’

All the best!

Dr.Bharath Chandra & Rohan