The Indian Equity Markets on Tuesday opened in the green in early morning trade. It was a day of volatile trade and the markets started to show strength on the back of financials doing well to close in the positive zone towards the closing bell.
Titan, Bajaj Auto, Bajaj Finserv, SBI, Nestle India, ITC, Axis Bank, and Tata Steel were the main gainers in trade on a day of volatile day of trading.
On the other hand, HCL Tech, Tech Mahindra, UltraTech Cement, TCS, and Sun Pharma were among the losers.
After starting the day in the positive zone, the bears did manage to bring nifty down a little bit but the bulls regained strength and Nifty finally end at the closing bell at 17991(+46) levels whereas the Sensex closed at 60,284 (+148)
The selling in IT stocks as a result of a weak start to the earnings season and weakness in global markets, the domestic market traded in the negative zone for some time during the day.
However, with strong support from PSU banks on revamped hopes of privatization and continued buying interest in consumer goods, metals, and auto, the Indian equity markets managed to end on a positive note.
The Foreign institutional investors Sold on Tuesday Rs 278 Crores whereas Domestic institutional investors Sold Rs 741 Crores.
The FII’s buying in a big way will definitely help the up move in the markets. Most analysts are expecting the markets to now trend upwards to 18200-18500 nifty levels in the October Series.
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 back strongly to higher levels.
The I.T, 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 be under the radar of the traders.
Private banks like HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T companies like Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, and Mastek are likely to move up quickly in the coming days.
The other I.T. Stocks like LT Infotech, Intellect Design, LTTS, Sonata Software also can be observed for an upwards move in the coming days.
Pharma stocks like Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be positive in the Indian equity markets. 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 Banking and Financial Sector, PSU sector, I.T., OMC, Chemicals Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Kotak Bank, Indusind Bank, Icici Bank, Federal Bank, HDFC Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, Shriram Transport, India Bulls Housing Finance, HDFC LTD.
# 5 Pharma Stocks: Dr. Reddy's, Granules, Divi’s Lab, Cadila, Glenmark Pharma.
#5 Information Technology Stocks: Infosys, LTI, LTTS, Mastek, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Reliance, Arti Surfactants, Fine Organics, Exide, Cyient, Gabriel India, Canara Bank, Sunteck Realty, Bank of Baroda, Gujarat Alkalies.
After a positive day of trading on Tuesday, the view is that the Indian equity markets will be a volatile day on Wednesday.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain
13th September Stock Picks––
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Most Analysts expect the markets to reach 18200-18500 levels for the near term.
You can watch us live on every trading day on our Facebook Page and YouTube Channel with our Chart Pe Charcha wherein we discuss the respective trading strategy and the stocks.
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
Best wishes for a Cheerful Wednesday in the Indian equity markets!
