The Indian equity markets are looking forward to an interesting week ahead. The bulls looked in command having scaled a big hurdle on Friday with bank nifty closing above 30,000(30,052). The Nifty too closed decisively above 13200 levels (13,258) whereas Sensex closed at 45,079.
Most analysts are positive with more upside in the near term. The strength comes from the Foreign institutional investors continuing to buy with the Friday figures at Rs 2969 crores even though domestic institutional investors continue to sell with Friday figures at Rs 1971 crores.
The U.S. Markets closed positively with Dow Jones closing at 30,218(+248), S&P closing at 3699(+32), and Nasdaq closing at 12464(+87). This will definitely keep the Indian equity markets more inclined towards the positive side in the first half of Monday and then will move either side depending on how the European markets open in mid-afternoon.
Some of the stocks which can be active on Monday are Icici bank, Axis bank, Indusind Bank, Hdfc bank, Sbi from the banking sector, and Sbi life and Hdfc standard life from the insurance sector.
Infosys ,TCS and HCL technology seemed to be set to make a move and can be tracked for any decisive move towards the upside.
The other stocks like UltraTech Cement , Bharat Forge , Maruti, Ashok Leyland and some of the Quality PSU stocks can be looked at for profitable opportunities to trade and invest.
The Energy and Oil and Gas stocks will be in demand with International Energy prices rising last week.
Few analysts expect volatility in the markets in the coming days and are giving a word of caution at these high levels. Overall the general sentiment in the markets now seemed to be in favor of the nifty moving towards 13500-13600 and bank nifty moving another 500-1000 points upwards in the coming days.
Today we can analyze these stocks for our good. These stocks include Bata India, Axis Bank, Dr. Reddy’s.
-Copper prices hit seven-year Highs.
-China demand, prospects of US stimulus package.
-Promising development towards COVID-19 vaccine.
-Crude oil posts fifth straight weekly gain.
-Brent at nine-month highs.
-OPEC + agrees to ease deep oil output cuts from Jan.
Wishing all a Profitable Monday !
Cheerful Trading !!
