The Thursday’s Expiry Trading in the Indian equity markets was a Volatile Session with Markets showing strength in the early morning session.
The indices opened gap up and then selling happened at 15000+ levels.
The Nifty swiftly came down to 14800 support levels in the afternoon session.
Bajaj Finserv, Bajaj Finance, Axis Bank, Reliance Industries and IndusInd Bank were the major gainers.
Bajaj Auto, HDFC, HCL Tech and L&T were among the losers on Thursdays expiry trading session.
Finally the Thursday expiry closing happened at 14894 (+30) Nifty levels and 49765 (+32)Sensex levels.
In today’s Trade, Metals , Financials and Pharma stocks were very strong.
It will be interesting to see which way the Indian equity markets turn on the last day of trading week.
The bulls and the bears both will see an opportunity to profit from the Fridays trading session since volatility is expected due to Assembly exit poll results.
Most Analysts believe that the Cues from the Global Markets will play a major role in the direction of the markets in the near term.
The Foreign institutional investors bought on Thursday Rs 809 Crores whereas Domestic institutional investors Sold Rs 942 Crores.
FII’s resuming to buy will be a key factor going forward in deciding the direction for the Indian equity markets.
Most experts expect the indices to continue to be an upward trending marker for the coming few days if the global markets are positive.
Normally most traders look to book profits on the last day of the week and go with fewer trades for the next week.The second half of the session can be volatile trading session.
There seems to be Sector rotation happening with Banking and Financials gaining strength on Thursday.
Cement stocks like Ultra Tech Cement , Ambuja Cement, Grasim , Shree Cement , Dalmia Bharat , Ramco Cement are likely to continue their strength in the coming days.
Pharma stocks like Glenmark Pharma , Dr Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good.
The private banks like ICICI Bank, Federal Bank, Kotak Bank, Indusind Bank, Axis Bank, HDFC Bank will look to move further up from the Thursday’s session.
NBFC’S – Bajaj Finance , PEL, Bajaj Finserve, Shriram Transport Finance will looking to move upwards as the bulls take control of the fridays trading session.
The I.T Majors like TCS ,Infosys, Tech Mahindra, HCL Tech , Wipro are Likely to gain if the global markets remain positive.
Also Tata Motors, Ashok Leyland, Maruti, Gujarat Pipavav, are expected to regain the positive up move in the near term.
The general Sentiments in the market seemed to have turned positive with traders awaiting global cues to take a call on which way the markets may move in the near term.
The stocks to keep an eye on in the Indian equity markets will be the Financails , Metals Sector , I.T Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Kotak Bank, Federal Bank, Icici Bank, RBL Bank, Axis Bank.
#5 NBFC Stocks: PEL, Shriram Transport,Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial.
# 5 Pharma Stocks: Sun Pharma, Dr Reddy’s , Lupin, Divi’s Lab, Glenmark Pharma,.
#5 Information Technology Stocks: Wipro, TCS, Infosys, HCL TECH, LTTS.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
Motherson Sumi, Dr Reddy's, Maruti, HDFC LTD, Escorts, Deepak Nitrate, Graphite, Gujarat Pipavav, Tata Motors, Tata Chemical.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
(Watch YouTube Video Analysis here –https://youtu.be/1V0UFe-yZY4 )
After a relatively positive trading day on Thursday, the view is that the Indian equity markets will be looking to consolidate and look to Global cues to decide on the near-term direction.
The positive cues from the US Markets will emboldened the Bulls to take the markets towards 14900-15000 levels…
Best wishes for a Cheerful Friday in the Indian equity markets!
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Cheerful Trading !!
