Rally continues with further momentum

Blog meant for 27 October Friday 2017

Dear Friends,

Our markets opened weak and negative in the morning due to negative global cues but as the days progressed it grew in strength and finally Nifty closed 48 points higher at 10344. This is another record high for the Nifty. Similarly, many of the Asian markets and US markets are trading at record highs which is helping the rally in our markets.

Markets have been mostly looking strong for the past one month. However, it is wise to not get carried away by the rise and getting overconfident about short term trades.

At high levels, investors need to be careful of all short term trades since a fall can take any time and if not alert, it could affect our profits.

The technical analysis for tomorrow for short term is as follows –

The Nifty is still in Hold zone –

THE HOLDS ARE- ACC, HINDALCO, M&M, RELIANCE, VEDANTA, SBI, LARSEN

THE DONT BUYS ARE-  AXIS BANK, TITAN, YESBANK, HDFCBANK

Hold / Too late to Buy – MARUTI

WAIT TO SELL – TCS, ASIAN PAINT

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See the following chart which shows how investors think/ behave about investments and what mistakes they usually make by buying at the highest point and selling at the wrong time.

 

All the best!

Dr.Bharath Chandra & 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)