The Wednesday’s Trading in the Indian equity markets was a trending markets with the bulls making a strong comeback from the lows of last week.
As aniticipated in the morning post, the Indian equity markets opened in the Green on back of positive global sentiments and traded in a small range for most of the day.
The Bulls made a strong move in the last hour of trading with the index heavy weights like Reliance , Infosys, TCS all closing at the Days High.
The Banks and IT Stocks Helped the bulls to dominate the day and help Nifty close Strongly above 15200 levels.
Finally , At the closing bell ,the Sensex was at 51444 (1147 +). The Nifty closed at 15,245 levels ( 326+) and the bank nifty was at 36368(+948).
The US Markets closing will be keenly watched by the bulls to take the nifty towards 15400 levels on the Thursday expiry day trading.
The Foreign institutional investors bought on Tuesday Rs 2088 Crores whereas Domestic institutional investors bought Rs 392 Crores.
FII’s buying in such big quantity after the big sell off on Friday is a direction changing trigger for the indian equity markets.
The US Stock Market ended in red with the Dow Jones 31,270.09 (-121.43), NASDAQ 12,997.75 (-361.04), and S&P 500 Index 3,819.72 (-50.57).
For the coming week, most analysts believe that Indian markets will be volatile with the global markets cues important in deciding the near term direction of the markets.
One of the relieving factors is that in the US Markets the bond yields seem to be stabilizing and the Tech Stocks are rebounding to positive territory.
Most experts expect the indices to continue the upward movement towards 15400 with the Global Cues being positive acting as an important factor in the markets near term direction.
The Global Markets trading in the positive territory will definitely help nifty scale upwards in the coming days and reach the new highs on the weekly Thursday expiry.
The private banks like Federal Bank , Indusind Bank, Axis Bank, Kotak Bank, HDFC Bank will Look to move further up from the Wednesday’s session.
NBFC’S – Mahandra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance too will make upward movements considering the positive sentiments in the markets.
The I.T Majors like Infosys, Tech Mahindra, TCS, Wipro will be looking to continue their good showing from Wednesday’s session and scale up on the back of strong NASDAQ rebound in U.S Markets.
The I.T. Majors are expected to do good considering the dollar gaining strength in the last few days .These stocks can be accumulated at lower levels for substantial gains in the near term.
Pharma stocks like Lupin, Divi’s Lab, Cipla, Dr Reddy’s, Divi’s Lab, Sun Pharma, Cadila are expected to do good in the near term.
Cement stocks like Grasim, Shree Cement ,Shree Cement are Likely to show strength as the broader market looks to maintain the upwards momentum from wednesday’s session.
Also Tata Motors, Maruti, Adani Enterprise, Adani Port, Gujarat Pipava, BEL, is expected to be keenly watched by the traders on Thursday.
The general Sentiments in the market seemed to have turned positive with Bulls sensing an opportunity to scale up towards 15400 for the Thursday expiry.
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Icici Bank , Axis Bank, Indusind Bank, Federal Bank, Kotak Bank.
#5 NBFC Stocks: Bajaj finserve,Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Lupin, Divi’s Lab , Dr Reddy’s, Biocon, Sun Pharma,.
#5 Information Technology Stocks: Infosy ,TCS, HCL TECH, Co-Forge, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
PEL, Gujarat Pipava, Reliance, Mahindra and Mahindra, Tata Motors , Ashok Leyland , Adani Port, Adani Power,Tata Power,Torrent Power.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
4th March Stock Picks — ANSUL…STOCKS---Dr Reddy's, Godrej Properties, M&M.
(Watch YouTube Video Analysis here ) - https://youtu.be/wGOThvTCFJ4
After a day of Trending upwards markets on Wednesday , the Trading view is that the Indian equity Markets will be looking to gain momentum.
The positive cues from the US Markets will emboldened the Bulls to take this Thursday expiry towards 15300-15400 levels…
Most Analysts expect the markets to reach new highs in this March expiry.
Best wishes for a Cheerful Thursday in the Indian equity markets!
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