The Indian Equity Markets opened on Wednesday flatish and then did slide towards negative zone on the back of sustained midcap selling. The Indian equity indices n slowly regained some ground post noon to close flat towards the closing bell.
Tata, NTPC, PowerGrid, Reliance Industries, and Bajaj Finservwere the main gainers in Wednesday's day of volatile trading session.
On the other hand, Kotak Bank, Bajaj Auto, Sun Pharma, and ICICI Bank were among the laggards.
After starting the day flatish, The nifty did trade sideways before sliding downwards for some time. Then post noon it started to move upwards and finally the Nifty ended up at closing bell at 16282(+2) levels whereas the Sensex closed at 54,525(+28)levels.
Most analysts feel that following continued selling in broader markets and weak Asian and US peers, Indian indices shed its early gains to recover towards the closing bell.
The Measures taken by BSE to curb excessive price movement in smaller stocks triggered selling pressure in small and mid-cap stocks, while clarity from BSE on limiting its restrictions to penny stocks gave some relief to the midcap segment.
A Strong closing on Wednesday night for U.S. Markets will lead to a big short-covering rally in the Indian equity markets as the Indian equity markets looked oversold on Monday and Tuesday trading.
Fii’s and Dii’s buy /sell figures on Wednesday.
The Foreign institutional investors bought Rs238 Crores while the Domestic institutional investors Bought Rs 206 Crores.
If FII’s resume to buy in a big way, It will help the bulls to make a move towards 16400 nifty levels.
Most experts expect the indices to continue to be sideways with the expiry expected at 16350-16400 Nifty levels.
There seems to be a possibility of the IT, Banking & Financials, Pharma Sector, going up in the coming days.
Axis Bank, HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
NBFC’S – Equitas Holding, India Bulls Housing Finance, PEL, Bajaj Twins, Shriram Transport Finance will be under the radar of the traders.
Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in a SIP manner for decent gains in near future.
Pharma stocks like Sun Pharma, Cadila, Dr. Reddy’s, Lupin, Divi’s Lab, Cipla, are expected to do good in the near term.
The market seemed to be turning Bullish on global cues and the traders will be looking to take nifty upwards to 16000 Levels.
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Pharma Sector Stocks.
# 5 Banking Stocks: Axis Bank, Icici Bank, Federal Bank, HDFC Bank, Indusind Bank.
#5 NBFC Stocks: PEL, India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, HDFC LTD.
# 5 Pharma Stocks: Divi Labs, Cadila, Cipla, Dr. Reddy’s, Sun Pharma.
#5 Information Technology Stocks: LTTS, Mastek, TCS, Co- Forge, Cyient.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Tata Chemical, IDFC LTD, LTI, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, Graphite, Eicher Motors, Ashok Leyland.
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-
12Th August Stock Picks — Indus Tower, TCS.
( Watch YouTube Video Analysis here– https://youtu.be/dtP_FXQuGwo )
