It was a Day of Total Confusion and Uncertainty in the Indian equity markets on Wednesday with Technical Glitch Stopping trading in NSE from 11.30 am to 3.30 pm.
The Trading hours had to be extended for a special session from 3.45 pm to 5 pm to complete the pending trades and close the session for the day.
The Trading before 11.30 am and after 3.45 pm did present 2 different scenarios.
In the morning it was a range-bound trade with the indices tentative to move either way.
The afternoon session after 3.45 pm was when the bulls made a big comeback with bank nifty rising nearly 1500 points and nifty 300 points to touch 15000 levels.
The Sensex ended finally at 50,781 up 1030 points, Nifty topped at 14982 marks (+274) and Bank Nifty closed at 36452(+1335points).
HDFC Bank was among the Top gainers along with Axis Bank, ICICI Bank, Bajaj Finance to name a few of the financial.
The overall sentiments now seem to have turned bullish for the short term and the expiry now seems possible above the crucial 15000 levels.
It will be interesting to see if the Nifty is able to close near 15200 or it comes down to 14750-14850 levels for the Thursday monthly expiry.
Most experts expect the indices to continue being bullish from nowhere on and scale towards 15200.
The Global Markets trading in the positive territory will definitely help nifty scale up to 15200 or else it will come down and take support at 14750-14800 levels.
The Foreign institutional investors sold on Wednesday Rs. 1200 Crores and Domestic institutional investors bought Rs. 230 Crores.
The U.S. Markets closed flat on Wednesday with Dow Jones closing at 31,961.86 (+424.51), S&P closing at 3,925.43 (+44.06), and NASDAQ closing at 13,597.97 (+132.77).
The Government Agency Business is now opened to Private Banks which can act as a trigger for the private banks.
HDFC Bank, Indusind Bank, Axis Bank, ICICI Bank, Kotak Bank, Federal Bank will continue to be in limelight from yesterday’s session.
Some of the other stocks which can be active on Thursday are the PSU banks like Sbi, Bank of Baroda, and PNB, Canara Bank, etc. due to the privatization-related news.
The insurance sector stocks HDFC Standard Life, SBI Life, and Max Financial services will be bought at every dips due to favorable future business outlook.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look go up in the coming days after a consolidation.
Infosys, Tech Mahindra, TCS, Wipro have been consolidating for the last couple of weeks and trying to bounce back. The I.T. Stocks are poised for an up move and can be accumulated at lower levels for substantial gains in the near term.
Pharma stocks like Divi’s Lab, Sun Pharma, Cadila, and Cement stocks like ACC, and Grasim are Likely to show strength as the broader market looks to regain lost ground.
Also, Bharat Forge, Bharti Airtel, Maruti, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders.
The general Sentiments in the market seem to have turned bullish with an opportunity to buy in dips for a bounce-back if global markets give positive cues.
The stocks to keep an eye on in the Indian equity markets will be the Banking Sector, NBFC Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Axis Bank, IDFC First Bank, HDFC Bank, Bank of Baroda, Indusind Bank.
#5 NBFC Stocks: HDFC Ltd, Bajaj Finance, Bajaj Fin serves, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Dr Reddy’s, Lupin, Sun Pharma, Divi’s Lab, Biocon.
#5 Information Technology Stocks: Tech Mahindra, Co forge, Infosys, TCS, L&T Technology.
#10 Other Main Stocks to watch out for on this Monday Morning in the Indian Equity Markets:
Tata Motors, Ashok Leyland, Reliance, Adani Port, Grasim, Bharti Airtel, HDFC Standard Life, Tata Elixsi, Adani Power, Torrent Power.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
(Watch YouTube Video Analysis here – https://youtu.be/k49AAt-MqDY)
After a day of the surge in financials on Wednesday, the Trading view is that the Indian equity Markets will be trying to move upwards on Thursday carrying the positive sentiments for Thursday Monthly Expiry closing.
Most Analysts expect the weekly expiry on Thursday to be around 15100-15200 nifty levels.
Best wishes for a Profitable Day in the Indian equity markets!
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