Blog meant for 21 Oct 2016 Friday
Dear friends,
Marginal rise for the Nifty today, up 40 points and just below the 8700 mark. Global cues mixed and hence no particular direction with different markets trading both up and down.
Nifty is in Wait to Buy zone still. As per 30 days moving average graph, the following are the indications for short term –
Hold – Maruti, L&T
Don’t Buy – Axis Bank, HDFC, M&M, Titan, HDFC Bank
Sell – Infosys
Just Buy – TCS
Currently, any Buy indications can be ignored until Nifty enters Buy zone. Markets have been see-sawing in the last two days. Lets see what happens on the last day of the week tomorrow.
All the best!
Dr.Bharath Chandra
