Weak global cues

Blog meant for 18 May 2017 Thursday

Dear friends,

Our markets had a volatile day but still finally closed 14 points higher at 9525. Today the global cues are all negative and hence there is good chance that our markets may open negatively.

As per 30 days moving average, Nifty is in Hold zone.
The indications for short term for individual stocks are as follows –

THE HOLDS ARE – L&T, HDFC BANK, MARUTI, ASIAN PAINT, M&M, SBI, HDFC,  TCS,  INFOSYS, ITC

Sell – Titan, ONGC

Wait to Buy –   AXIS BANK

Don’t Buy –  LUPIN, DIVISLAB, BHEL, Reliance,

There may be some consolidation and profit booking in our markets today especially due to negative global cues. Carefully observe markets and follow the rules of technical analysis for short term trades.

Long term investors can continue to invest as per plan. Many investors must have noticed that their portfolio which has been built from a few years has appreciated a lot in recent months. Continue the regular investing so that you will see the value of your portfolio as a meaningful amount many years later.

All the best!

Dr.Bharath Chandra