Status quo – no action for short term

Blog meant for 25 Nov 2016 Friday

Dear friends,

Nifty closed 68 points lower to close below the 8000 mark once again. The weakness in our markets as well as other Asian markets continues. Global cues are not helping our markets also since Asian & European markets have been seeing selling in their markets.

As of now, Foreign Investors are selling Indian stocks and are taking their money to the US expecting a brighter and better investment scenario in the US. This is the reason for the weakness in the Asian markets including ours.

Since Dollars have been taken out of the country and hence less supply of US Dollars, the US Dollar has appreciated against the Rupee. It is now Rs.68.73 per US Dollar. However, gold prices have been falling recently and is around Rs.28,720 per 10 gm.

Nifty is in Don’t Buy zone. As per 30 days moving average graph, the following are the indications for short term –

Don’t Buy – Titan, Infosys, TCS, L&T, Maruti, HDFC, M&M, Axis Bank, HDFC Bank

Just continue monthly investments for long term whereas there is no action to be taken for short term trades.

All the best!

Dr.Bharath Chandra

About the author

Dr. Bharath Chandra

Hi there! This is Dr. Bharath Chandra & Rohan, International Trainers & Success Coaches. We have addressed more than a crore people on Stock Market, Personality Development, Wealth Management and Financial Planning over the past 35 years.

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