The Tuesday trading session in the Indian equity markets was a day of big volatility with the indices closing in the red.
Indian equity markets started the day with a gap up opening.The Bulls seem to be in control till mid-afternoon session. Then the sudden selling happened and brought the nifty back to the crucial 14500 levels at closing bell.
In Today’s trading session, Dr Reddy's, Reliance Industries, Sun Pharma, HDFC twins, Infosys, M&M and PowerGrid were the main losers.
ONGC, Bajaj Finance, TCS, Nestle India and SBI were on the gaining side.
Finally at closing bell , the Nifty dropped to 14,496 ( - 137) whereas the Sensex closed at 48,253 (-465).
In Tuesdays trade, buying was seen in the public sector, oil & gas and utilities, whereas selling pressure was mainly in healthcare, energy, telecom, and consumer durables.
It is seen that a increase in covid cases is still a matter of concern, modest decline in new cases in many parts like Maharashtra and Delhi offers some positive comfort to the markets.
Experts believe that if the Nifty holds above 14,500 , then an upmove towards 14,700 and 14,800 can be expected if the Fii buying resumes.On the other lower side, the support exists at 14,400 and 14,250 zones.
The Foreign institutional investors sold on Tuesday Rs 1772 Crores whereas Domestic institutional investors bought Rs 987 Crores.
If the FII’s start to buy then it will be a big positive for the upmove in the markets . Most analysts are expecting the markets upwards towards 14700 nifty levels.
Most experts expect that if FII’S starting to buy again, the indices will go upwards in the coming few days.
Stocks to watch out for this Wednesday Morning in the Indian Equity Markets
There seems to be a possibility of the banking and financial sector bouncing bank to higher levels.
The Metals & Chemicals Sector also will be keenly watched by the traders.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda, Showed good momentum on tuesday trading session. They are likely to go up further in the coming days.
Private banks like HDFC Bank , ICICI Bank, Bandan Bank, Indusind Bank , Kotak Bank , Axis Bank, Federal Bank, will look to consolidate and move further up.
NBFC’S – Bajaj Finance , Mahindra and Mahindra Financial Services, PEL, Bajaj finserve, Shriram Transport Finance will under the radar of the traders.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, Co-forge and HCL Tech can move up quickly.
The Mid- Cap I.T. Stocks like LTTS, Mastek, Intellect Design, Sonata Software also can be watched keenly for any upwards move in the days to come.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to gain from here as the broader market looks to maintain the upwards momentum from Tuesday’s session.
Pharma stocks like Cadila, Glenmark Pharma, Lupin, Divi’s Lab , Dr Reddy’s, Cipla and Sun Pharma are expected to give good returns in the short term.
The general Sentiments in the market seemed to have turned neutral. The traders will be looking for global cues to take the markets to new highs in the coming week.
The stocks to keep an eye on in the Indian equity markets will be the Metals and Chemicals Sector, I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Icici Bank, Axis Bank , HDFC Bank , Indusind Bank, Rbl Bank.
#5 NBFC Stocks: HDFC LTD, IBull Housing, Shriram Transport, Bajaj Finserve, PEL.
# 5 Pharma Stocks: Cadila, DrReddy’s, Divi’s Lab, Glenmark Pharma, Sun Pharma.
#5 Information Technology Stocks: LTTS ,Tech Mahindra , TCS, HCL TECH, Wipro.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Bajaj Auto, L&T, HDFC LTD, Motherson Sumi, India Bulls housing , SBI,Rbl Bank , Graphite, Adani Port , Bandhan Bank .
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
5TH MAY March Stock Picks — Bajaj Auto , HDFC LTD, L&T.
( Watch YouTube Video Analysis here –https://youtu.be/_6fH_zRjb1U )
After a Volatile day of trading on Tuesday , the view is that the Indian equity Markets is that the bulls will to be back with a little help from the Global Markets and Fii Buying.
Most Analysts expect the markets to reach 14500-600 levels for Expiry on Thursday.
Best wishes for a Profitable Wednesday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
We do conduct Pre-Market Analysis webinars daily in the morning. You can join this live webinar of today through our Facebook Page & Youtube Channel.
Cheerful Trading !!
