The Indian equity markets continued to be under selling pressure for the 5th Consecutive day and closed in the negative territory. Can the Indian Equity Markets bounce back this Friday is the foremost question on top of the mind of every market participant.
On Expiry Thursday, The Markets opened in red as expected on the back of global weakness and traded with small bounces throughout the day.
In the last hour of trade, the bank nifty recovered nearly 700+ Points to show some strength in the markets.
The Indian Equity Markets ended towards the lows of the day with Nifty closing at 13,817(-150)
Sensex closing at 46874(-535) and Bank Nifty closing at 30358(+73).
Axis Banks was the one banking stock which lead the bank nifty with nearly 7+ percent upside. The Axis bank results seemed to have been taken favourably by the Market participants.
Reliance started the day with a 2+ uptick but gave up all the gains in the 2nd half to end in the red.
The Auto Stocks were weak throughout Thursday even though Tata motors managed to close slightly in the Green.
Overall, the Indian Equity markets on Thursday showed weakness across sectors.
Most experts expect the indices to bounce back on the basis of recovery in the global equity markets. According to Most analysts, the crucial levels of 13700 nifty levels will be decisive support level and the indices after 6 days of selling is bound to show some sort of bounce in the coming days.
The Foreign institutional investors sold on Thursday nearly Rs 3712 Crores whereas Domestic institutional investors Bought Rs 1736 crores.
FII’s buying towards the budget will be the key to the market slowly but steadily moving upwards.
The U.S. Markets closed Positively on Thursday with Dow Jones closing at 30,603(+300), S&P closing at 3787(+37) and NASDAQ closing at 13337(+66).
Many analysts believe that Indian markets will be bounce back on Friday on back of global markets recovery.
Axis bank and Icici Bank will be in limelight and expected to do well on Friday.
The Private Banks are showing more strength compared to the PSU banks.
Some of the stocks which can be active on Friday are Axis Bank, HDFC Bank, Icici Bank, Indusind Bank, Federal Bank.
The insurance sectors stocks Max financial services and Hdfc standard life will be keenly watched for as defensives bets.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look to bounce back from the last few days of weakness.
Infosys, TCS came under some selling pressure on Thursday and will try to bounce back and recover some of the losses of the past couple of days
Pharma stocks like Divi’s Lab, Sun Pharma, Cadila and Cement stocks like ACC, and Grasim are Likely to show strength as the broader market showing positive direction.
Also Bharat Forge, Bharti Airtel, Maruti, Adani Enterprise, Adani Port, is expected to be keen watched for any trigger by the traders for going long in the near term.
The general Sentiments in the market seem to be of a bounce back in the markets after 5 consecutive days of selling. The global recovery will set the tone for the near term in the Indian equity markets.
The stocks to keep an eye on in the Indian equity markets will be the Banking Sector , I.T Stocks , Pharma Stocks , FMCG Stocks , NBFC Stocks and Cement sector Stocks.
Keep these stocks under your radar for Trading and investments on Friday.
#5 Information Technology Stocks: Infosys, HCL Tech, Tech Mahindra, TCS, L&T Technology.
# 5 Banking Stocks: Axis Bank, HDFC Bank, ICICI Bank, Federal Bank, Indusind Bank.
#5 NBFC Stocks: Hdfc, Bajaj Finance, Bajaj Fin serves, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Sun Pharma, Dr Reddy’s, Divi’s Lab, Cadila, Cipla.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
Maruti , Tata Motors , Ashok Leyland ,Reliance, Adani Port,Grasim, Bharti Airtel , HDFC Standard Life, Bharat Forge, Cyient.
Analysts are guiding for some bounce back in the Indian equity markets on Friday.
It will be interesting to watch if the nifty manages to recover and scale towards 14500-14700 levels in the coming days.
To sum up, for this Friday, the Trading view is that the Indian equity Markets will open gap up on the basis of the global recovery. The Budget will determine the direction of the markets in the coming week.
Best wishes for a Profitable Friday in the Indian equity markets!
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Cheerful Trading !!
