The Indian Equity Markets opened on Wednesday in the slightly negative zone on the back of subdued global cues. The Indian equity indices slowly regained strength during the later part of the day and closed strongly towards the end.
Tech Mahindra, HCL Tech, Infosys, L&T, Tata Steel, and ITC were among the main gainers in trade on a positively trending day of trading.
On the other hand, Maruti, HUL, Nestle India, and Dr. Reddy were among the laggards.
After starting the day mildly in the negative zone, The Nifty did move upwards throughout the second half of the trading day. Then Nifty made a smart closing towards closing bell at 15853(+41) levels whereas the Sensex closed at 52,853(+134)levels.
Most analysts believe that the ongoing results season can be expected to see strong numbers from IT. The chemicals and real estate businesses are also contributing very well to the company's profitability, while numbers would be relatively weaker for autos and financials companies.
The Good results posted by Infosys and LTTS after market hours on Wednesday is likely to propel the I.T. stocks on Thursday's weekly expiry trading. The Nifty closing at the best ever all-time highs seems a high probability if the FII buying resumes at these levels on Thursday.
The Foreign institutional investors Sold Wednesday Rs 1303 Crores while the Domestic institutional investors Bought Rs 1335 Crores.
If FII’s resume to buy in a big way, It will help the bulls to make a move towards 16000 nifty levels on Thursday's Expiry day session.
Most experts expect the indices to continue to be positive with the expiry expected at 15950-16000 Nifty levels.
There seems to be a possibility of the I T, Banking & Financials, Pharma Sector, going up in the coming days.
The private banks showed some strength in the last 2 days and are likely to gain further on Thursday.
Axis Bank, HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
NBFC’S – Equitas Holding, India Bulls Housing Finance, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders.
Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in SIP manner for decent gains in near future.
The I.T Majors Infosys and LTTS delivered better than expected results after Wednesday market hours. This is likely to help all the I.T. Stocks on Thursday.
Pharma stocks like Sun Pharma, Cadila, Dr. Reddy’s, Lupin, Divi’s Lab, Cipla, are expected to do good in the near term.
The market seemed to have turned Bullish and the traders will be looking to take nifty upwards to 16000 Levels.
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Pharma Sector Stocks.
# 5 Banking Stocks: Axis Bank, Rbl Bank, Icici Bank, Federal Bank, HDFC Bank
#5 NBFC Stocks: HDFC LTD, India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, PEL.
# 5 Pharma Stocks: Lauras Labs, Cadila, Cipla, Dr Reddy’s, Sun Pharma.
#5 Information Technology Stocks: LTTS, Infosys, TCS, Co- Forge, Redington.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Tata Metallics, LTI, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, Graphite, Eicher Motors, Ashok Leyland, M&M.
The view in the Indian equity Markets is that the volatility in the markets will remain due to expiry.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
15th JULY Stock Picks —
( Watch YouTube Video Analysis here–)
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 !!
Image Source: Shutterstock
