The Thursday expiry trading in the Indian equity markets started with Nifty opening in the positive zone. The nifty did trade sideways for some time before gaining strength and closing finally at Historic highs of 16325(+82) levels whereas the Sensex closed at 54,843(+318)levels.
PowerGrid, Tech Mahindra, HCL Tech, Titan, L&T, NTPC, and ICICI Bank were the main gainers in trade on Thursday's historic expiry day of closing.
On the other hand, Dr. Reddy's, IndusInd Bank, Reliance Industries, and Axis Bank were among the losers in trade on a positively trending trading day.
Most analysts feel that the Domestic equities recovered sharply mainly led by sharp rebound in IT and PSU banks.
It was also seen that there was strong buying was in midcap and smallcap stocks today after persistent selling for the last couple of days.
The IT stocks and Chemical Stocks remained in focus throughout the day.
The Foreign institutional investors sold Rs. 212 crores while the Domestic institutional investors bought Rs. 307 crores.
The FII’s resuming to buy in a big way will help the bulls to make a move towards 16500-600 nifty levels soon.
Most experts expect the Indian Stock Market to continue to be upwards with the Friday being expected at 16400-500 Nifty levels.
There seems to be a possibility of the Banking & Financials, I.T., Pharma Sector, going up in the coming days.
Axis Bank, HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
NBFC’S – HDFC Ltd, Equitas Holding, India Bulls Housing Finance, PEL, Bajaj Twins, Shriram Transport Finance will be under the radar of the traders.
Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in a SIP manner for decent gains in near future.
The I.T Sector delivered better than expected results and this is helping the markets to hold on to the positive sentiments.
Pharma stocks like Sun Pharma, Cadila, Dr. Reddy’s, Lupin, Divi’s Lab, Cipla, are expected to do good in the near term.
The market seemed to be turning Bullish on global cues and the traders will be looking to take nifty upwards to 16500 Levels.
The stocks to keep an eye on in the Indian stock market will be the Banking Sector, I.T Sector, Pharma Sector Stocks.
Keep these stocks under your radar for Trading and investments on Friday
# 5 Banking Stocks: Axis Bank, Icici Bank, Federal Bank, HDFC Bank, Indusind Bank.
#5 NBFC Stocks: HDFC LTD, India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, PEL.
# 5 Pharma Stocks: Divi Labs, Cadila, Cipla, Dr. Reddy’s, Sun Pharma.
#5 Information Technology Stocks: LTI, Mastek, TCS, Mphasis, INFY.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
Tata Chemical, Graphite, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, Munjal Auto, Sail, Laxmi Organics, PI Industries.
The view in the Indian stock market is that the volatility in the markets will remain.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
13th August Stock Picks —Axis Bank, Havels,Hindalco, IDFC FIRST BANK, L&T.
Watch YouTube Video Analysis here– https://youtu.be/GKLNI0qTtVU
Best wishes for a Cheerful Friday in the Indian stock market!
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