Nifty touches but closes below 10,000 mark

Blog meant for 26 July 2017 Wednesday

Dear friends,

Today was a historic day as Nifty touched the 10,000 mark for the first time in its history but profit booking lead to it not being able to sustain at that level and close flat at 9965. Markets may once again try to touch and close above the 10,000 mark tomorrow.

Global cues are mixed tonight. The US Federal Reserve is conducting its regular meeting today and tomorrow regarding decision of Interest rates.

Short term traders must be aware of the markets level. Do not buy any stocks for short term currently since markets are at an all time high.

Long term investors who are investing on a monthly basis need not be concerned. If your vision is 10 years or more, investing at all levels regularly is very important for the final returns you will get many years later.

As per technical analysis, Nifty is in Hold zone. The indications for individual stocks for short term are –

THE HOLDS ARE –  Maruti, Yes Bank, Reliance, ACC,  SBI, HDFC Bank, Axis Bank,   TCS, Infosys, Titan, M&M

Wait to Sell – L&T, Asian Paint, LUPIN

Sell – DIVISLAB

Don’t Buy –  HDFC, ITC

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Please read the following article on how the habits of Investors in India is slowly changing towards Mutual Funds & Stock Markets – http://economictimes.indiatimes.com/wealth/invest/how-mutual-funds-have-won-over-risk-averse-indian-household/articleshow/59752496.cms

All the best!

Dr.Bharath Chandra & Rohan