The Fridays trading session in the Indian equity markets was a day of relative consolidation day. The markets opened gap up but then some selling pressure came in dragging the Nifty downwards.
The Markets on the last day of trading week finally closed with the BSE index ended at 49,591 (-155) while the Nifty closed at 14,834 (-38).
Amongst the Stocks the financial sector was the laggard with Axis Bank, ICICI Bank, IndusInd Bank, Bajaj Finance, HDFC Bank, all closing in the Red.
The other stocks which closed in the negative were Reliance, UltraTech Cement, NTPC, and L&T.
The Pharma and I.T Sector showed relative strength.
Cipla, Sun Pharma, Dr Reddy's were among the gainers whereas HUL, Tech Mahindra, LTTS also ended in the green.
The sharp rise in corona virus cases in the country did seem to be concern in the near term.
The talk of further lockdowns in Mumbai – the financial capital of the country will be an overhang on the mondays trading session in the Indian equity markets.
On the Positive side, the excellent results expected from the I.T. sector and all other companies this quarter will keep the bulls in play for the April series.
It will be interesting to see if the bears are able to pull the Nifty towards 14500 levels again on Monday morning session.
The U.S. Markets closed on Friday with strong positive cues as Dow Jones closed in at 33,800( +297), S&P at 4128(+31) whereas NASDAQ closed in at 13900 (+70).
For the coming week, most analysts believe that Indian markets will be volatile.
The rising corona cases being negative while the positive quarterly results outlook for most companies will keep the bulls in the game.
The Foreign institutional investors Sold on Friday Rs 653 Crores whereas Domestic institutional investors SOLD 271 Crores.
FII’s Resuming to buy and continuing to buy in the coming week will take the markets upwards towards 15000 Nifty levels..
Most experts expect the indices to continue to be volatile for the coming few days .
There seems to be a possibility of the I.T & Pharma doing really good wherea banking and financial sector will be weak .
The private banks like Axis Bank, Icici Bank, Federal Bank, Indusind Bank, Kotak Bank, HDFC Bank are under pressure due to the second wave of corana virus and related uncertainity.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did see some strenght on friday and can be accumulated on dips 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 especially since the global markets was in positive territory on Friday closing.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, and HCL Tech are looking strong in anticipation of results.
The Infosys Buyback news will be a big positive trigger for the I.T. sector on mondays trading session.
Also Tata Motors, Ashok Leyland are expected to regain the positive up move in the near term.
Cement stocks like ACC, Ultratech Cement, Ambuja Cement, Grasim, Shree Cement, Dalmia Bharat, Ramco Cement are likely to show strength.
Pharma stocks like Cadila, Cipla, Glenmark Pharma, Dr Reddy’s, Lupin, Divi’s Lab, and Sun Pharma are expected to do good in the near term.
The general Sentiments in the market seemed to have turned positive for Pharma and I.T. Sector .
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Axis Bank, Rbl Bank, ICICI Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: PEL, Bajaj Finserve, IBull Housing, Shriram Transport, Bajaj Finance,.
# 5 Pharma Stocks: Cadila , Sun Pharma, Cipla, DrReddy’s, Glenmark Pharma .
#5 Information Technology Stocks: Infosys, TCS, HCL TECH, Co- Forge , LTTS.
#10 Other Main Stocks to watch out for on this Monday Morning in the Indian Equity Markets:
LT infotech, Reliance, Escorts, Maruti, M&M Financial, Graphite, Tata Motors, Ashok Leyland, Adani Port, Adani Power, Canara Bank.
After a consolidation day of trading on Friday, the view in the Indian equity Markets is that the indian equity markets will be volatile on monday.
The positive cues from the US Markets will emboldened the Bulls to take the markets towards 15000 Nifty levels whereas the corona related negatives will keep the bears in play to pull down the indices.
Expert Ansul Jain-
12TH APRIL Stock Picks — Escorts, HDFC Bank, M&M Financial, Maruti.
( Watch YouTube Video Analysis here– https://youtu.be/7T2maifYdIY )
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