Thursday’s expiry trading session in the Indian equity markets was very volatile with the Nifty opening flat and soon sliding gradually lower in the early morning session.
The Markets were falling with no support to be seen till 2.30 pm with nifty coming closing to 14250 levels.
Then some support by the bulls pulled the nifty back to 14475 levels for some time in the afternoon expiry session.
Finally the Nifty slumped again to close at 14,334(-224) whereas Sensex closed at 48440(740) and the Bank Nifty was at 33006 (-286 ) at closing bell.
Nifty PSU Bank, FMCG, auto, infra, IT and energy indices slipped 2-3 percent whereas BSE midcap and smallcap indices fell 1.8-2.2 percent.
All the S&P BSE sectoral indices ended lower for the second day, with auto, power, oil & gas, FMCG, and realty stocks slipping more than 2 percent each.
Amongst the Stocks, Maruti was the top loser in the Sensex pack, losing around 4 percent.
The other Major stocks on the losing side were Bharti Airtel, HUL, NTPC, Bajaj Finance, UltraTech Cement, ONGC, and Reliance Industries.
On the Gaining Side was Dr Reddy's, ICICI Bank, L&T and HDFC.
To sum up, with Bearish sentiments in the Indian equity markets seems to take the markets further downwards .
The positive cues from global markets and FII’s Buying in a big way can only help the bulls in taking the markets upwards.
The U.S. Markets closed on Thursday with relatively positive cues as Dow Jones closed in at 32,619(+199) , S&P at 3909 (+20 ) whereas NASDAQ closed in at 12977 (+16).
For the coming week, most analysts believe that Indian markets will be trending lower on negative global markets cues happening. Else the Indian Equity Markets will make an attempt to regain the 15000 nifty levels in the coming week.
The Foreign institutional investors Sold on thursday Rs 3383 Crores whereas Domestic institutional investors bought Rs 2267 Crores.
FII’s buying will have to resume for the bulls to take the nifty towards 14500 levels again.
Most experts expect the indices to continue to trend d0wmwards on Friday with 14500 nifty levels key for the bulls to regain to have some support in this weak markets scenario.
The downward movement will happen in case of nifty decisively breaking the 14250levels and starts to trade for a considerable time below those levels.
The Cues from the global markets in the afternoon session on Friday also will be a deciding factor in the closing of Indian equity markets.
There seems to be a strong possibility of the Banking and financial sector gaining strength and Bank nifty making a break out from here on if the market sentiments changes towards the positive side.
The private banks like Axis Bank, Kotak Bank, HDFC bank, Rbl Bank, Bandhan Bank, Icici Bank, Indusind Bank, will look to move further up from thursday’s closing.
PSU Banks like Bank of Baroda, Canara Bank, Karnataka Bank; Bank of Maharashtra; Indian overseas Bank has been hammered a lot and will look to contribute to the bank nifty moving upwards.
NBFC’S –Mahindra and Mahindra Financial Services, Bajaj Twins, Shriram Transport Finance too will be strong candidates for positive up move.
The I.T Majors like Tech Mahindra, Wipro, Infosys, TCS, and HCL Tech were weak on Thursday and they will look to bounce back on Friday’s trading day.
Cement stocks like Ambuja Cement , ACC, Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength if the market regains some positive momentume from here onwards.
Pharma stocks like Lupin, Dr Reddy’s, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good picks in the near term as the traders rush towards the defensive stocks.
Also Maruti, Tata Motors, Ashok Leyland, are expected to regain on the basis of the positive news regarding the auto Sale numbers expected on 1st April.
The general Sentiments in the market seemed to be more of bearishness and the traders will be watching keenly the global cues to take the call on the markets in the coming days.
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.
Tata Motors, Ashok Leyland, Graphite, Deepak Nitrate, Tata Power, Torrent Power, Reliance, Bharti Airtel, Jindal Steel, M& M Financial.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
26th March Stock Picks — Bharti Airtel , Jindal Steel , M& M Financial
(Watch YouTube Video Analysis here – https://youtu.be/XjNA9TcZ5mw )
After a weak trading day on Thursday , the view is that the Indian equity Markets is bearish and the traders will be looking to global cues to decide which way the market moves in the near term.
Best wishes for a Profitable & Cheerful Friday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS FRIDAY 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.
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 !!
