Some buy indications

Blog meant for 26 May 2017 Friday

Dear friends,

Huge surprise rally for our markets today as Nifty rose by 149 points to close at 9509. Today was the last day of the expiry for Futures & Options and hence it could be one of the reasons for the rally. Global cues are mixed but we have to see how it moves in the next coming days.

We have to also see if today’s rally was the start of a new rally or it was just due to the expiry of the Futures & Options contracts.

As per 30 days moving average, Nifty is in Hold zone after the huge rally.
The indications for short term for individual stocks are as follows –

THE HOLDS ARE – HDFC BANK, MARUTI, TCS, INFOSYS, ITC

Just Buy – M&M, HDFC, Axis Bank, ASIAN PAINT

Too late to Buy / Hold – L&T

Wait to Buy – SBI,

Don’t Buy –  LUPIN, DIVISLAB, BHEL, Reliance, ONGC, Titan

Follow the technical analysis strictly without any emotions. Do not use any other logic to hold on to a share when it is showing a Sell indication. 

Let us hope this rally will continue.

All the best!

Dr.Bharath Chandra