Blog meant for 28 Dec 2016 Wednesday
Dear friends,
Finally Nifty had a significantly positive close as it rose by 125 points. It was mainly because of short covering since the Futures & Options contracts which are expiring on Thursday. Since markets have been weak throughout the month, today’s rally was to recoup some losses in Futures & Options contracts.
Nifty is in Wait to Buy zone. As per 30 days moving average graph, the following are the indications for short term –
Hold – Infosys, TCS, Maruti
Don’t Buy – HDFC, Axis Bank
Wait to Buy – L&T, HDFC Bank, M&M, Titan
The global cues continue to be weak. We have to see whether this rally was only for short covering or its an actual rally.
As of now, no action to be taken until the overall markets and individual stocks rise.
Just watch markets or stay away from markets until the New Year starts.
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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