Slight weakness but majority stocks still in hold zone

Blog meant for 6 March 2017 Monday

Dear friends,

Nifty closed flat on Friday, down only 2 points. It is currently below the 8900 mark. Our markets have been slightly weak during the last two days after rising in the previous days. The global cues were also weak on Friday evening in Europe and US.

The indications for short term are –

THE HOLDS ARE – TITAN, HDFC BANK, BHEL, M&M,  TCS, Infosys, RELIANCE, AXIS BANK, ASIAN PAINT, DIVISLAB

JUST BUY  – LUPIN (It is showing a Just Buy indication even though markets have been dull during the last 2 days. You can buy if you have the risk appetite or wait for another day and observe the overall market direction and then decide)

SELL –HDFC, L&T

DON’T BUY –  ONGC, MARUTI,  SBI, ITC

The State Election results in a few states will be announced in the next one month or so and it will be crucial for the markets. Also, the Central Government has finalised many aspects of the GST. It is likely that GST will be implemented from July 1, 2017. We have to wait and see how markets react to the above news.

All the best!

Dr.Bharath Chandra