The Indian Equity Markets opened gap up in the early morning session. Then the Nifty did consolidate and slowly moved upwards during the day. The Nifty did slide a little towards the end to close marginally lower.
SBI, HDFC duo, Kotak Bank, PowerGrid and ICICI Bank were among the losers..
On the other hand, Tech Mahindra, Bharti Airtel, Infosys and HCL Tech were among the gainers.
Finally at Closing Bell, the Nifty ended at 15,740(-11) whereas the Sensex ened at 52,275(-52).
The financials and metals witnessed selling pressure, whereas the IT, FMCG, and pharma did gain in Tuesday's trading session.
Analysts believe that investors will continue to focus on the trajectory of daily COVID-19 cases and vaccination ramp up in the country in the near term.
The Foreign institutional investors Bought on Tuesday Rs 1422 Crores while Domestic institutional investors Sold Rs 1626 Crores.
If the FII’s continue to buy, then it will be a big positive for the up move in the markets. Most analysts are expecting the markets upwards towards 15800-16000 nifty levels in the near term.
Most experts expect that if FII’S buying continues, 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 banks to higher levels.
The I.T., OMC, Metals & Chemicals Sector also will be keenly watched by the traders.
NBFC’S – Bajaj Finance, Mahindra and Mahindra Financial Services, PEL, Bajaj fin serve, Shriram Transport Finance will under the radar of the traders.
Private banks like HDFC Bank, ICICI Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Axis Bank, Federal Bank, will look to scale higher from hereon.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, Co-forge and Mastek can move up quickly.
The Mid- Cap I.T. Stocks like LT Infotech, Intellect Design, Sonata Software also can be watched keenly for an upwards move in the days to come.
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 bullish. The traders will be looking for global cues for direction in the coming days.
The stocks to keep an eye on in the Indian equity markets will be the PSU sector, OMC, Chemicals Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Kotak Bank, HDFC Bank, Indusind Bank, Icici Bank, Axis Bank.
#5 NBFC Stocks: Shriram Transport, India Bulls Housing Finance, PEL, HDFC LTD, Bajaj Finance.
# 5 Pharma Stocks: DrReddy’s, Divi’s Lab, Cadila, Glenmark Pharma, Sun Pharma.
#5 Information Technology Stocks: LTI, Mastek, Tech Mahindra, TCS, Wipro.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
LTTS, Mastek, PI Industries, Tata Motors, Bandhan Bank, Motherson Sumi, India Bull's housing, SBI, Rbl Bank, Hindalco, M&M.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
9TH June March Stock Picks — Bajaj Auto, Bajaj Finance , Eicher Motor, Lupin, Sun Pharma
( Watch YouTube Video Analysis here –https://youtu.be/kxBrKNJuIE0)
After a consolidation day of trading on Tuesday, the view is that the Indian equity markets will go higher if Fii continues to Buy.
Most Analysts expect the markets to reach 15800--16000 levels for the near term.
Best wishes for a Profitable Wednesday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
