Global markets recover slightly

Blog meant for 8 Feb 2018 Thursday

Dear friends,

Today was a relatively quiet for our markets as the movement was not too much on either side.

Nifty closed 21 points lower.

However global cues are more positive tonight as European markets have recovered slightly from recent fall and are trading 1 to 2 % higher as of now.

Due to the positive global cues, Nifty may open quite positive tomorrow.

However this need not mean the recent market fall is over. The markets have more chance to fall since the market rise until few days back was almost a one way traffic and there was hardly any fall during the past one year.

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

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

THE HOLDS ARE- INFOSYS, ITC

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

WAIT TO SELL – TCS

There are no fresh buy indications for short term. Just observe markets and buy only for long term.

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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)