BLOG MEANT FOR 23 AUGUST 2018 Thursday
Quiet day for markets on Tuesday. Nifty closed only 19 points higher, but still a new high. However, our markets moved from positive to negative in Tuesday’s trading day. Global cues are quiet positive tonight. But be careful, do not unnecessarily buy for short term unless there is an indication to buy.
All looks good for markets as of now. However, we should expect profit booking any time.
Nifty index is in Hold Zone.
The indications for individual stocks for short term only are –
HOLD ZONE –INFOSYS, RELIANCE INDUSTRIES, ITC, AXIS BANK, SBI, TITAN, TCS, M&M, HINDALCO, YES BANK
DON’T BUY ZONE – HDFC, HDFC BANK, MARUTI
SELL ZONE – ASIAN PAINTS (it has touched the red line and is showing Sell indication. This is what happens when markets are at high levels. Buying freshly for short term becomes more risky than normal).
WAIT TO SELL ZONE – VEDANTA (observe and see tomorrow’s movement)
Invest regularly for long term on monthly basis. Let the market rise not affect your decision to invest for long term
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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)