No action – just watch and observe

Blog meant for 21 Dec 2016 Wednesday

Dear friends,

Another quiet and negative day for Nifty as it closed 22 points down. It traded in a tight range the entire day. However, the global cues are directing towards a more positive tomorrow. Hopefully the Asian markets open positive so that our markets too trade positively.

Nifty has had five days of negative closes. Also, markets have been lacking momentum in the last few days.

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

Hold – Infosys, TCS

Don’t Buy – M&M, HDFC Bank, HDFC, Maruti, Axis Bank

Wait to Buy – Titan, L&T

Rupee has fallen against the US Dollar in the last few days and is in around Rs.68.03 per US Dollar. This is the reason for IT Companies rising in the last few days.

No action for short term. Continue to buy for long term.

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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