Wait and watch markets

Blog meant for 11 Nov 2016 Friday

Dear friends,

As expected, due to positive global cues, Nifty closed 94 points higher. However, markets were trading at much higher levels but fell towards last 30 minutes. Tonight, the European and US markets are trading 1-2% lower and hence Asian markets and our markets could trade slightly weak tomorrow.

Nifty is still 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 

Wait to Buy – Axis Bank

Buy – HDFC Bank (Wait for another day till you take action since Nifty index is still in don’t buy zone).

Hope long term investors are investing as per their plan.

All the best!

Dr.Bharath Chandra