No change in indications

Blog meant for 22 Feb 2018 Thursday

Dear friends,

Finally, Nifty had a positive close today. It went up by 37 points to close at 10397.
Global markets are mainly positive tonight and hence this helped our markets to end in positive territory.

Foreign Institutional Investors (FII) have been selling in Indian Stock Markets for the last two week continuously. The Indian Mutual funds and other institutions have been buying on the other hand. If this current weakness continues, and Indian investors also start selling, then markets may fall further.

Do not buy now for short term. Long term purchases with the intention of holding for 8-10-15 years plus can be made at any time.

The analysis for Short term as per technical analysis is as follows:

Nifty is in Don’t Buy zone.
The indications for individual stocks for short term are –

DON’T BUY – HINDALCO, ASIAN PAINT, TITAN, MARUTI, M&M, HDFC BANK, SBI,  YES BANK, AXIS BANK, HDFC, VEDANTA

WAIT TO BUY –ITC, RELIANCE INDUSTRIES

HOLD – INFOSYS

HOLD / TOO LATE TO BUY – TCS (It went up 3 % today itself and closed much above the red line. It is in Hold position/too late to Buy).

Only IT stocks have been going up in recent days due to the deprecation / fall in the value of the Rupee which benefits IT companies whose income is mainly received in Dollars.

Apart from that, most of the companies are trading weak since the start of February.

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All the best!

Dr.Bharath Chandra and Rohan

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(The above comments are only the personal views of the authors of this blog. Please do your own research before taking any investment decisions. The reader of this blog must understand and take full responsibility for the Profit or Loss made by taking actions based on the above views)