The Fridays trading session in the Indian equity markets was on totally unexpected lines. The markets as anticipated opened up 200 points on nifty but the instead of gaining strength, the selling pressure came in and markets started to slide downwards.
By the afternoon session , the nifty had almost lost 400 points from morning highs. Finally some buying came in towards the last half an hour .
Finally at the closing bell, the Nifty closed above 15000levels at 15031 levels (-143), the Sensex at 50792(-487) and the bank nifty closed at 35496(-441).
The Stocks of theday were BPCL, IOC, Power Grid , JSW Steel , Tata Power , Titan .
On the other hand, Reliance, the Autos , PSU Banks and Life insurance companies were as seen in SBI Life, HDFC Life ,Tata Motors , Ashok Leyland, Reliance, Bank of Baroda, Canara bank etc.
To sum up, The positive closing in the U.S. Markets with Dow Jones closing positively will help the Indian equity markets to overcome the Fridays bearishness.
The U.S. Markets closed on Friday with strong positive cues as Dow Jones closed in at 32,788( +293) (+572), S&P at 3943 (+4) whereas NASDAQ closed in at 13319 (-78.
For the coming week, most analysts believe that Indian markets will be trending higher if the global markets trade in positive territory.
The Foreign institutional investors sold on Friday Rs 942 Crores whereas Domestic institutional investors sold Rs 163 Crores.
FII’s selling in such big quantity is a concern and most analysts are expecting FII’s buying to resume in the coming week and take the markets upwards towards 15400nifty levels..
Most experts expect the indices to continue to trend upwards for the coming few days with the downward movement happening only if the US Markets bond yields again starts moving upwards.
There seems to be a possibility of the banking and financial sector bouncing bank from the lows of last week.
The private banks like Axis Bank, Icici Bank, Federal Bank, Indusind Bank, Kotak Bank, HDFC Bank will look to consolidate and move further up from the last week’s lows.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did see some corrections 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 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 with the dollar strengthening and these stocks can move up quickly after a long period of consolidation.
Also Tata Motors, Ashok Leyland, Gujarat Pipavav, had a subdued couple of days and they are expected to regain the positive up move in the near term.
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 general Sentiments in the market seemed to have turned neutral with traders looking for global cues to take the markets to new highs in the coming week.
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: Axis Bank, HDFC Bank, ICICI Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: Bajaj Finance, PEL, HDFC LTD, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Lupicn, Cipla, DrReddy’s, Divi’s Lab, Sun Pharma.
#5 Information Technology Stocks: Tech Mahindra , TCS, Infosys, HCL TECH, Co- Forge.
#10 Other Main Stocks to watch out for on this Monday Morning in the Indian Equity Markets:
Deepak Nitrate, Graphite, Mahindra and Mahindra, Tata Motors, Ashok Leyland, Adani Port, Adani Power, Tata Power, Canara Bank, Bank of Baroda.
After a weak trading day on Friday, the view is that the Indian equity Markets will be looking to open gap up on the back of Global cues and then will 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…
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
15th March Stock Picks — Adani Enterprise , Bharti Airtel , Ultra Tech Cement , Shriram Transport .
(Watch YouTube Video Analysis here – https://youtu.be/UB_vY-KiKkQ )
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 Monday in the Indian equity markets!
