It was a day of volatility on Wednesday in the Indian Stock Market. The equity Indices in the Indian Stock Market closed with overall negative sentiments intact in a day of ups and downs trading session.
The day was all about the selling pressure in private banks, IT, FMCG, and Pharma Stocks on February 17, 2021.The Public Sector Banks saw a session on positive note, while the private sector banks were weak.
The BSE Sensex declined 400.34 points to 51,703.83, while the Nifty50 fell 104.60 points to 15,208.90 and the bank nifty closed the day at 36,910 (-187.50).
The overall sentiments seem to be of a volatile outlook for the coming expiry. It will be interesting to see if the Nifty is able to close around 15400 or it comes down to 15100 for the Thursday expiry.
Most experts expect that since the Nifty failed to show any upside momentum in the Stock Market today can hint a more downfall in the future sessions.
The Global Markets trading in the positive territory will definitely help nifty scale up to 15500 levels during this week.
Since there is no shortage of trading opportunities, the analysts believe in healthy corrections in Indian Stock market. Additionally, there are 2 hot stocks in the news; L&T Finance and D-Mart for the next 3-4 weeks.
The Foreign institutional investors sold on Friday Rs. 1008.20 Crores whereas Domestic institutional investors sold Rs. 1283.38 Crores.
FII’s resuming to buy will be the key to the markets upwards movement in the near term.
Rbl Bank, Bandan Bank, Indus Bank, Axis Bank, ICICI Bank, HDFC Bank, Federal Bank will continue to be in limelight and expected to do well on Thursday.
Some of the other stocks which can be active on Thursday are the PSU banks like SBI, Bank of Baroda, and PNB, Canara Bank etc.
The insurance sectors stocks HDFC Standard Life, SBI Life and Max financial services will be bought at every dips due to favourable future business outlook.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look go up in the coming days after a consolidation on Thursday’s session.
Infosys, Tech Mahindra, TCS, Wipro have been consolidating for the last couple of weeks and is being sold into on every rise. The I.T. Stocks are poised for an up move and can be accumulated at lower levels for substantial gains in the near term.
Pharma stocks like Divi’s Lab, Sun Pharma, Cadila and Cement stocks like ACC, and Grasim are Likely to show strength as the broader market looks to regain lost ground.
Also, Bharat Forge, Bharti Airtel, Maruti, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders.
The general Sentiments in the market seem to be Bullish for the rest of the days of this week.
While awaiting the release of minutes from the US Federal Reserve, the Nasdaq fell on Wednesday which led to the downfall of the bigger technology firms. The Dow Jones happens to be up by 90.27 points at 31,613, S&P was in the red by 1.26 points at 3,931 and the Nasdaq Composite was down by 82 points at 13,965.
The stocks to keep an eye on in the Indian equity markets will be the Banking Sector, NBFC Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Bandan Bank, RBL Bank, Axis Bank, ICICI Bank, Indusind Bank.
#5 NBFC Stocks: HDFC Ltd, Mahindra and Mahindra financial, Shriram Transport, Bajaj Finance, Bajaj Fin serves.
# 5 Pharma Stocks: Lupin, Biocon, Sun Pharma, Dr Reddy’s, Divi’s Lab,
#5 Information Technology Stocks: Tech Mahindra, Co forge, Infosys, TCS, L&T Technology.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Maruti, Tata Motors, Ashok Leyland, Reliance, Adani Port, Grasim, Bharti Airtel, HDFC Standard Life, Bharat Forge, Tata Elixsi.
It will be interesting to watch if the nifty manages to move towards 15400-15500 levels in the coming days.
Ambuja Cements, Enkei Wheels, RCL Retail, Rollatainers are on the list to announce their results on February 18, 2021.
IDEA, PNB, & SAIL are under the F&O ban for February 18.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
18th February Picks — HINDALCO, HINDPETRO, Reliance, SBI
(Watch YouTube Video Analysis here – https://youtu.be/HQ7wW0_YJ7U)
After a day of volatility on Wednesday, the Trading view is that the Indian Stock Market will be trying to move upwards on Thursday.
Most Analysts expect the weekly expiry on Thursday to be around 15400 nifty levels. And if you are still having thoughts to buy the stocks, you can watch us live on the below-mentioned link to join Chart Pe Charcha every trading day at 8.30 AM IST.
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.
