Can NIFTY cross 15000 today ?? The Positive Momentum from the Historic Budget continued throughout the last week and the Nifty nearly Gained 10% from the Pre-budget closing levels.
In the Morning, All the Indices opened in green and continued to show strength.
The PSU Banks and Pharma Sector was the Sectors of the Days. SBI leads the way with nearly 13+ gains and closed Friday at 393(+11%). Divi’s Lab and Dr. Reddy from the Pharma Sector did gain 4% & 3% to lead the way for Pharma Sector respectively. The Traders seem to book profits in Banking stocks and switch to the Pharma sector.
There was some volatility before RBI Meet and prices did dip for some time during the day in response to the same.
The Re-acting of the PSU Banks will be a big trigger in the days to come.
The Indian Equity Markets Finally ended towards the higher end with Nifty closing at 14924 (+28) Sensex closing at 50,731(+117) and Bank Nifty at 35654 (+309).
Most experts expect the indices to consolidate and eventually move towards 15500 levels in the near term. They expect some volatility during the days and expect the dips to be bought into with PSU banking sector, Pharma Sector, and Auto Sector showing Strength.
Reliance and the I.T.Sector are very much anticipated to take the Nifty to much higher levels from now on.
Sector rotation is happening with the Auto sector gaining first, and then the banking and now the I.T.Sector stocks seem to be at attractive valuations for a swift move upwards.
The Foreign institutional investors bought on Friday nearly Rs 1461 Crores whereas Domestic institutional investors sold Rs 1418 Crores.
FII’s buying resuming in the last 2 days will be a big positive for Nifty to reach 15000 levels.
The U.S. Markets closed positively on Friday with Dow Jones closing at 31,148(+92), S&P closing at 3886(+15), and NASDAQ closing at 13586(+78).
For the coming week, most analysts believe that Indian markets will keep trading higher towards 15500 Nifty levels unless there are sudden negative global cues.
Pharma stocks like Divi’s Lab, Dr. Reddy’s, Sun Pharma, Cadila is showing strength and can be expected to gain further from here on the back of excellent results from Divi’s Lab.
Cement stocks like UltraTech Cement, ACC, and Grasim is expected to continue with positive gains in the coming days for this week.
SBI, Canara Bank, Bank of Baroda, PNB, IndusInd Bank, Axis Bank, ICICI Bank, HDFC Bank, Federal Bank will continue to be in limelight and expected to do well this week too.
The Momentum is shifting towards PSU banks in the banking sector with big upgrades & buy recommendations coming in for SBI from most brokerages.
The Insurance sector Stocks will be looking to gain some momentum along with the banking sector.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look go up after the strength shown on last week’s trading.
Infosys, TCS, HCL Tech, Tech Mahindra will be in focus on Monday as they have underperformed in the last week and can be expected to go up anytime during this week.
Also, Tata Motors, Ashok Leyland, Maruti, Bharat Forge, PEL, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders. The prices of some of these stocks have corrected during the last few days and most analysts expect them to rebounce to higher levels.
The general sentiments in the market seem to have turned Bullish and the traders seem to buy every dips during the day.
The Pharma Sector, Banking & NBFC Sector, PSU Banks, Auto Sector, I.T Stocks, FMCG Stocks, and Cement sector Stocks will be the ones to be followed on Monday.
# 5 Pharma Stocks: Divi’s Lab, Dr Reddy’s, Lupin, Cadila, Cipla.
#5 Information Technology Stocks: Tech Mahindra, Infosys, TCS, L&T Technology, HCL Technology.
# 5 Banking Stocks: Axis Bank, Indusind Bank, HDFC Bank, ICICI Bank, Bank of Baroda.
#5 NBFC Stocks: Bajaj Finance, Bajaj Fin serves, HDFC Ltd, Shriram Transport, and Chola Finance.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets
Bharti Airtel, Indusind Bank, M&M & Tata Steel, Maruti, Reliance, Tata Motors, Ashok Leyland, Adani Port, Grasim.
Analysts are guiding a super week for the Indian equity markets on the basis of favorable sentiment aftermath of the Historic Budget.
All are expecting the Nifty to finally reach 15500 levels sooner than later.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
8th February Picks--- HDFC Bank, Jindal Steel, Kotak Bank, TATA Steel
(Watch YouTube Video Analysis here - https://youtu.be/thSmVRgWwrY)
The Positive Momentum from the Budget will play a big part in Nifty touching the all time high of 15500 levels in the near term.
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