The Thursday’s Expiry Trading in the Indian equity markets was a volatile day as normally is during expiry sessions.
The markets opened gap down due to weak global cues and did try to regain some momentum towards 15200. The last half an hour trading gave up all the gains and the Nifty closed the Thursday expiry at
The Sensex was at and the bank nifty ended at on Thursday closing bell.
The Bulls strongly defended the 15000 Nifty levels and attempted to scale upwards above 15200 during the first half. But the bears did strike back in the last half an hour of trade before closing to bring the prices of most of the stocks down towards closing bell.
Finally, at the closing bell, the Nifty closed little below 15000 levels at 15,080 levels (-165), the Sensex at 50846 (- 598) and the bank nifty closed at 35802(-565).
JSW Steel, Hindalco Industries, HDFC, Tata Steel and Tata Motors were among the top Nifty losers, while gainers were UltraTech Cement, Shree Cements, Adani Ports, Grasim Industries and Dr Reddy's Labs.
BSE Smallcap index outperform the main indices with a gain of a percent led by the Rane Madras, Seya Industries, Welspun Enterprises, Balmer Lawrie & Co
Today evenings US Markets closing will be keenly watched by the bulls and the bears to decide the direction of the market in the next few days.
The Foreign institutional investors sold on Tuesday Rs 223 Crores whereas Domestic institutional investors sold Rs 788 Crores.
FII’s buying in such big quantity after the big sell off on Friday is a direction changing trigger for the indian equity markets.
Most experts expect the indices to continue to be volatile for the coming few days with the upward movement happening only if the US Markets trade in positive Zone.
Normally most traders look to book profits on the last day of the week and go with fewer trades for the next week.
There seems to be Sector rotation happening with the cement sector coming into the limelight on Thursday.
Cement stocks like Ambuja Cement, Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength as the broader market looks to maintain the upwards momentum from Thursday’s session.
Pharma stocks like Dr Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The private banks like Federal Bank, Indusind Bank, Axis Bank, Kotak Bank, HDFC Bank will look to consolidate and move further up from the Thursday’s session.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did show some momentum and can be accumulated for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders if the global markets are in positive territory on Friday morning.
The I.T Majors like TCS ,Infosys, Tech Mahindra, HCL Tech , Wipro are gaining in strength with the dollar strengthen and these stocks can move up quickly after a long period of consolidation.
Also Tata Motors, Ashok Leyland, Gujarat Pipavav, had a subdued day on Thursday and they are expected to regain the positive up move in the near term.
The general Sentiments in the market seemed to have turned neutral 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 I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Federal Bank, Icici Bank, RBL Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Dr Reddy’s ,Lupin, Divi’s Lab ,Cadila,Sun Pharma,.
#5 Information Technology Stocks: TCS, Infosys, Wipro, HCL TECH, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Deepak Nitrate, Graphite, Gujarat Pipavav, Reliance, Mahindra and Mahindra, Tata Motors , Ashok Leyland , Adani Port, Adani Power,Tata Power.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
ACC, Ashok Leyland, Maruti, Shriram Transport Fin
(Watch YouTube Video Analysis here - https://youtu.be/M_AgUrT77-8)
After a weak 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 15300-15400 levels…
Most Analysts expect the markets to reach new highs in this March expiry
Best wishes for a Profitable Friday in the Indian equity markets!
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