The Fridays trading session in the Indian equity markets belonged to the Bulls. The markets as anticipated opened gap up but then some selling pressure came in dragging the Nifty towards 14700 levels.
The Markets was indecisive at 14700-14750 levels till mid-afternoon. Then suddenly buying emerged and the markets did go up quickly to close strongly in the Green
Finally at the closing bell, the Nifty closed above at 14867 levels ( +176), the Sensex at 50029(+520) and the bank nifty closed at 33858(+554).
The Stocks of the day were Tata Steel, JSW Steel ,Hindalco , Adani Ports, Indusind Bank which showed good gains.
On the other hand, HUL, HDFC Life , Deepak Nitrate , Nestle, HDFC Bank and TCS did end up on the losing side.
To sum up, The positive closing in the U.S. Markets with Dow Jones closing positively will help the Indian equity markets to scale up over 15000 nifty levels.
The U.S. Markets closed on Friday with strong positive cues as Dow Jones closed in at 33,153( +171), S&P at 4019(+46) whereas NASDAQ closed in at 13480 (+233).
For the coming week, most analysts believe that Indian markets will be trending higher if the global markets continue to trade in positive territory.
The Foreign institutional investors BOUGHT on Friday Rs 149 Crores whereas Domestic institutional investors SOLD - 296 Crores.
FII’s Resuming to buy and continuing to buy in the coming week will take the markets upwards towards 15250 Nifty levels..
Most experts expect the indices to continue to trend upwards for the coming few days with the downward movement happening only if the Fil sell in a big way in the indian equity markets .
There seems to be a possibility of the banking and financial sector bouncing back from the lows of last month .
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 are expected to regain the positive up move on the back of very good auto sales numbers for the March month.
Cement stocks like ACC, Ultratech Cement , 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 Friday's session.
Pharma stocks like Glenmark Pharma , 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 positive 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, Rbl Bank, ICICI Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: Bajaj Finance, PEL, Bajaj Finserve, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Lupicn, Cipla, DrReddy’s, Divi’s Lab, Glenmark Pharma .
#5 Information Technology Stocks: TCS, Infosys, HCL TECH, Co- Forge , Mastek.
#10 Other Main Stocks to watch out for on this Monday Morning in the Indian Equity Markets:
Berger Paints , Reliance, Muthoot Finance, Infosys , Deepak Nitrate, Graphite, Tata Motors, Ashok Leyland, Adani Port, Adani Power.
After a Positive trading day on Friday, the view in the Indian equity Markets is that Positive Global Cues will help the Bulls to regain the momentum in the coming days.
The positive cues from the US Markets will emboldened the Bulls to take the markets towards 15250 Nifty levels…
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
5TH APRIL Stock Picks — Berger Paints , Infosys , Muthoot Finance Reliance.
( Watch YouTube Video Analysis here– https://youtu.be/LBR3818VMaU )
The cues from the US Markets will decide the direction that the markets takes in the coming days.
If the positive cues continues from U.S Global Markets, Then the weekly expiry can happen around 15250 Nifty levels.
We do conduct Pre-Market Analysis webinars daily in the morning. You can join this live webinar of today through our Facebook Page & Youtube Channel.
Cheerful Trading !!
