BLOG MEANT FOR 10 SEPTEMBER 2018 Monday
Nifty continued to rally on Friday as it went up by 53 points and closed at 11589. Global cues were quite negative on Friday evening in US and Europe.
Our markets have done well in the last 3-4 months and reached new highs. The consolidation which is expected has not happened.
Many investors may assume and be mistaken that markets always go up. In short term, there are always ups and downs. Of course, in long term, over 10 years plus, markets will always be higher than today.
So, do not be surprised when markets fall since it is all part of how Stock Market move in short term.
Nifty index is in Hold Zone for Short term.
The indications for individual stocks for short term only are –
HOLD ZONE – AXIS BANK, TCS, HINDALCO, INFOSYS,VEDANTA, RELIANCE INDUSTRIES
DON’T BUY ZONE – HDFC BANK, ASIAN PAINTS, YES BANK, MARUTI, SBI, TITAN, HDFC
TOO LATE TO BUY / HOLD ZONE – M&M
WAIT TO SELL ZONE – ITC
Long term investments should be continued as usual without worrying about the short term fluctuations.
YES Bank shares have been falling during the last 1-2 weeks. This is because of the uncertainty of who will be the CEO & MD of the company. The RBI gives approval for all banks on whether a particular person can continue as CEO of a particular bank. As of now, RBI has announced that the current CEO can continue ‘until further notice.’
Since ‘until further notice’ means that RBI can one day suddenly say that they want the Bank to appoint another person as CEO, which will lead to lot of certainty. Hence, the uncertainty is leading to investors sell the Stock.
Business performance wise it is doing quite well and hence there is no reason to worry about such short term concerns if you are a long term investor.
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All the best!
Dr.Bharath Chandra and Rohan
(The above comments are only the personal views of the authors of this blog. Please do your own research before taking any investment decisions. The reader of this blog must understand and take full responsibility for the profit or loss made by taking actions based on the above views)