Blog meant for 28 Oct 2016 Friday
Dear friends,
Nifty recovered towards the end of the day to close absolutely flat. Nifty was trading around 70 points lower during parts of the day, but rose in the last two hours or so.
Today was the last day of the October Futures & Options contracts and tomorrow is the start of the new November series. Hopefully, it starts off well.
The negative global cues and the average performance of companies in the previous quarter have kept investors pessimistic and cautious. Some positive news could help revive sentiments. We have to wait till then.
Nifty is still in Don’t Buy zone. As per 30 days moving average graph, the following are the indications for short term –
Hold – Maruti, TCS
Don’t Buy – Axis Bank, M&M, Titan, HDFC Bank, Infosys
Wait to Sell – L&T
Wait to Buy – HDFC
Do not miss the regular long term investing.
All the best!
Dr.Bharath Chandra
