The wednesday trading session belonged to the bears as the Indian equity markets from the morning itself was weak .The markets continuously came under severe selling pressure throughout the day.
Any attempts to take the markets up by the bulls was made with sustained selling by the bears.
Finally at the closing bell, the Nifty closed at 14721 levels (-189), the Sensex at 49801(-562) and the bank nifty closed at 34229(-575).
ONGC was the top loser in the Sensex pack, declining around 5 per cent, followed by NTPC, Sun Pharma, SBI, IndusInd Bank, Bajaj Auto, PowerGrid and RIL.
On the other hand, ITC, Infosys, TCS and HDFC were among the gainers.
To sum up, The Indian equity markets have been trending towards the lows for the last few days and positive cues from the global markets is not helping to overcome the bearishness.
The U.S. Markets closed on Wednesday with strong positive cues as Dow Jones closed in at 33,015( +189) (+572), S&P at 3974 (+11) whereas NASDAQ closed in at 13525 (+53).
For the coming days , most analysts believe that Indian markets will be trending higher if the foreign institutional investors start buying and global markets trade in positive territory.
The Foreign institutional investors bought on wednesday Rs 2625 Crores whereas Domestic institutional investors sold Rs 562 Crores.
FII’s buying is a big positive for the markets and help the bulls to make a comeback towards 15000 nifty levels..
Most experts expect the indices to continue to be volatile with bearishness for the coming few days. This Thursday can be a relatively positive day on back of positive Global Cues.
There seems to be a possibility of the I.T Sector going up in the coming days.
The private banks like Axis Bank, Icici Bank, Federal Bank, Indusind Bank, Kotak Bank, HDFC Bank will look to consolidate and move further up from the week’s lows.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did see some heavy corrections and can be accumulated for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, and HCL Tech are looking relatively strong and these stocks can move up quickly from here.
Also Tata Motors, Ashok Leyland, Gujarat Pipavav, had a weak day last couple of days and they are expected to regain the positive up move in the near term.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength as the broader market looks to maintain the upwards momentum from Thursday’s session.
Pharma stocks like Dr Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The general Sentiments in the market seemed to have turned bearish with traders looking for global cues .
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Federal Bank , Axis Bank, HDFC Bank, ICICI Bank, Indusind Bank.
#5 NBFC Stocks: PEL ,Bajaj Finance, HDFC LTD, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Cipla, DrReddy’s, Divi’s Lab, Sun Pharma ,Lupin.
#5 Information Technology Stocks: HCL Tech, Tech Mahindra , TCS, Infosys, Co- Forge.
#10 Other Main Stocks to watch out for on this Monday Morning in the Indian Equity Markets:
Reliance , Deepak Nitrate, Graphite, Mahindra and Mahindra, Tata Motors, Ashok Leyland, Adani Port, Adani Power, Tata Power, Canara Bank.
After a weak trading day on wednesday, the view is that the Indian equity Markets is in bearish zone and will be volatile in the coming days.
The positive cues from the US Markets will help the Bulls to take the markets towards 15000 levels
Trading View for Indian equity markets this Thursday Morning:
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
16th March Stock Picks — Motherson Sumi, JSW Steel, Jindal Steel, Hindalco.
( Watch YouTube Video Analysis here –https://youtu.be/fvcGgjKjDR4 )
The positive cues from the US Markets will emboldened the Bulls to take the markets towards 15000 levels…
Best wishes for a Profitable Thursday in the Indian equity markets!
