It was yesterday that the Indian Stock Market broke the 6-days winning streak and ending flat on the last hour profit booking. All the sectoral indices traded in red on Tuesday except for Energy, Bank Nifty, and Infra. It was also seen that Pharma, Metal, and Auto Indices shed by 1 percent each.
On Tuesday morning, all the Indices opened in green and continued to show strength until the second half of the Trading Day. The Indian Stock Market seems to be in red at the closing hours.
With some buying seen in the Capital Goods Sector and selling in the Oil & Gas, Metal, Power & IT Stocks, the Auto Index fell 13% on BSE on Tuesday. A hike of 100% in terms of volume seen in Tata Chemicals, Balkrishna Industries, PNB, and Torrent Pharma.
A short build up was noticed in Torrent Pharma, Power Grid, and Balkrishna Industries, while a long buildup was seen in Berger Paints, Voltas, & Tata Chemicals. The ITC, DLF, Tata Chemicals, TVS Motor, Escorts, ICICI Bank were among the 300 stocks that concluded to hit a fresh 52-week high on BSE.
The Indian Equity Markets finally ended towards the lower end with Nifty closing at 15109.30 (-6.50) Sensex closing at 51,329.08 (-19.69). While Bank Nifty closed at the higher end with 36056.50 (+72.80). If you are looking to buy quality stocks, it is recommended to watch our Charts Pe Charcha session to get a profitable trading day.
It is expected that the Indian Stock Market will open on a positive note today since SGX Nifty is showing a 53 points gain. The global market is on the Bullish side, with Dow Jones Futures currently showing 100 points uptick. And the same positive trend is expected in the Indian Market Today. However, any dips during the day will be an opportunity to buy quality stocks.
The PPAP Automotive, Tata Steel, Siti Networks, Gujarat Mineral Development Corporation, Mahanagr Gas are a few of the stocks that has to be focused today. Wherein, the Berger Paints, Neuland Labs, Raymond, IG Petrochemicals, InterGlobe Aviation are the stocks in news today.
The Foreign institutional investors bought on Tuesday nearly Rs 1,300.65 Crores whereas Domestic institutional investors sold Rs 1,756.24 Crores.
The U.S. Markets closed positively on Monday with Dow Jones closing at 31,376 (-9.93), S&P closing at 3,911 (-4.36), and NASDAQ closing at 14,007 (+20.05).
Flat closing in the U.S. Market was seen and hence it is anticipated that the Indian Stock Markets will b volatile at these high levels with positive sentiments intact. There will be opportunity to buy on dips during the day.
Pharma stocks like Divi’s Lab saw a negative fall on Monday. But, Dr. Reddy’s, Sun Pharma, Cadila is showing strength and can be expected to gain further from here on the back of excellent results.
Cement stocks like UltraTech Cement, ACC, and Grasim is expected to continue with positive gains in the coming days for this week.
SBI, Canara Bank, Bank of Baroda, PNB, IndusInd Bank, Axis Bank, ICICI Bank, HDFC Bank, Federal Bank will continue to be in limelight and expected to do well this week too.
The Momentum is shifting towards PSU banks in the banking sector with big upgrades & buy recommendations coming in for SBI from most brokerages.
The Insurance sector Stocks like ICICI Prudential & SBI Life Insurance will be looking to gain some momentum along with the banking sector.
NBFC’S – Bajaj Twins, Shriram Transport Finance too will look go up after the strength shown on last week’s trading.
Tech Mahindra, Infosys, TCS, HCL Tech, will be in focus on Monday as they have underperformed in the last week and can be expected to go up anytime during this week.
Also, Maruti, Bharat Forge, Tata Motors, Ashok Leyland, PEL, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders. The prices of some of these stocks have corrected during the last few days and most analysts expect them to rebounce to higher levels.
The general sentiments in the market seem to have turned Bullish and the traders seem to buy every dips during the day.
The Pharma Sector, Banking & NBFC Sector, PSU Banks, Auto Sector, I.T Stocks, FMCG Stocks, and Cement sector Stocks will be the ones to be followed on Wednesday.
# 5 Pharma Stocks: Divi’s Lab, Dr Reddy’s, Lupin, Cadila, Cipla.
#5 Information Technology Stocks: Tech Mahindra, Infosys, TCS, L&T Technology, HCL Technology.
# 5 Banking Stocks: Axis Bank, Indusind Bank, HDFC Bank, ICICI Bank, Bank of Baroda.
#5 NBFC Stocks: Bajaj Finance, Bajaj Fin serves, HDFC Ltd, Shriram Transport, and Chola Finance.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets
Bharti Airtel, Indusind Bank, M&M & Tata Steel, Maruti, Reliance, Tata Motors, Ashok Leyland, Adani Port, Grasim.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
10th February Picks— Cholafin, Hindalco, SunPharma, Tata Chemicals.
(Watch YouTube Video Analysis here – https://youtu.be/Nloxg3-2eYM)
Positive momentum is to be expected from the Stock Market In India. To know more about Stock Market you can Sign Up with Lakshmishree Investment & Securities Pvt Ltd.
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