Wednesday's trading session was a day of weakness with the gap down opening in the morning. The Negative cues from global markets weighed heavily on the day's trading sessions in the Indian equity Markets.
Bajaj Finserv, HDFC, M&M, Bharti Airtel, UltraTech Cement, and Kotak Bank all ended in the negative zone.
On the other hand, Sun Pharma, Nestle India, Tech Mahindra, Bajaj Auto and Axis Bank were among the gainers in Wednesday’s Trading session.
Finally at the closing bell, the Nifty ended at 15,030(-77) and Sensex ended at 49,902(-290).
Profit-booking was visible in most sectors and only Pharma, Realty And IT Stocks managed to end in green.
Analysts believe that Profit booking at higher levels may lead to the decline in Indian equity markets on Wednesday.
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 697 Crores while the Domestic institutional investors sold Rs 852 Crores.
FII’s starting to buy will help the bulls to make a move towards 15100 nifty levels.
Most experts expect the indices to continue to be positive with the expiry expected at 15100 Nifty levels.
There seems to be a possibility of the Banking , Pharma Sector, Metals going up in the coming days.
The private banks like HDFC Bank, Icici Bank , Federal Bank, Indusind Bank will move up in case of any positive triggers.
PSU Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in SIP manner for decent gains in near future.
NBFC’S – 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.
Tata Motors, Ashok Leyland, Tvs Motors will be in the radar of traders.
Pharma stocks like Wockhardt Pharma, 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 bullish with traders looking for positive local cues for taking nifty upwards to 15000-15200 levels..
The stocks to keep an eye on in the Indian equity markets will be the Pharma, Banking, Pharma, I.T Sector, Cement Sector Stocks.
# 5 Banking Stocks: Icici Bank , Federal Bank , RBL Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: , Bajaj Finserve, Bajaj Finance, HDFC LTD, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Cipla, Cadila, Lauras Labs, DrReddy’s, Sun Pharma.
#5 Information Technology Stocks: Tech Mahindra, HCL Tech, Infosys, TCS, Co- Forge.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Deepak Nitrate ,Vedanta, 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.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
20th MAY Stock Picks — Chola Finance, Escorts, Indusind Bank, Zee LTD.
( Watch YouTube Video Analysis here– https://youtu.be/jVXDYTlfH6o )
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Cheerful Trading !!
