The Indian Equity Markets opened positive and did consolidate in the early morning session. Then the volatility did suddenly happen in the afternoon session. Many Stocks gave up the morning gains and did slide down 5 to 10 percent from days high.
Towards the closing bell, Nifty ended the day much lower than from where it started in the morning.
L&T, Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto were the main losers on Wednesday trading session.
PowerGrid, NTPC, Titan, HCL Tech and Asian Paints were among the gainers.
The selling pressure in financials, auto and RIL did bring in the volatility and dragged the indices down in Wednesdays trading session.
Finally at Closing Bell, the Nifty ended at 15,635(-104) whereas the Sensex ened at 51,941(-333).
The outlook for the coming days has turned bullish with volatility expected on account of the possibility of the expiry-related pressures on Thursday.
The Foreign institutional investors Sold on Wednesday Rs 846 Crores while the Domestic institutional investors Sold Rs 271 Crores.
FII’s resuming to buy in a big way will help the bulls to make a move towards 16000 nifty levels.
Most experts expect the indices to continue to be positive with the expiry expected at 15700 Nifty levels.
There seems to be a possibility of the Banking, I.T., Pharma Sector, going up in the coming days.
PSU Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in SIP manner for decent gains in near future.
The private banks like RBL Bank, Axis Bank, HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
NBFC’S –India Bulls Housing Finance, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders.
The I.T Majors are looking to bounce back in the coming days. Mid-cap I.T stocks are likely to continue to regain some strength n Thursday.
Amongst other stocks, Tata Motors, Ashok Leyland, Tvs Motors will be on the radar of traders.
Pharma stocks like Sun Pharma, Cadila, Dr. Reddy’s, Lupin, Divi’s Lab, Cipla, are expected to do good in the near term.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength in the short term.
The market seemed to have turned volatile with bullish sentiments intact and the traders will be looking to take nifty upwards to 15700-15800 Levels.
The stocks to keep an eye on in the Indian equity markets will be the Pharma, Banking, I.T Sector, Cement Sector Stocks.
# 5 Banking Stocks: RBL Bank, Icici Bank , Federal Bank , Indusind Bank, Kotak Bank.
#5 NBFC Stocks: India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, HDFC LTD, PEL.
# 5 Pharma Stocks: Lauras Labs, Cadila, Cipla, Dr Reddy’s, Sun Pharma.
#5 Information Technology Stocks: Mastek, HCL Tech, Infosys, TCS, Co- Forge.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Mastek, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, ,Graphite, Eicher Motors, Hindalco, India Bulls Housing LTD, M&M..
The view in the Indian equity Markets is that the volatility in the markets will remain due to expiry.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
10th June Stock Picks —Asain Paints, Jindal Steel, MGL, Naukri, Sail.
( Watch YouTube Video Analysis here– https://youtu.be/MjOOC-5fDF4 )
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Cheerful Trading !!
