The Tuesday trading session was a day of volatile session.The Indian equity markets opened gap up in the early morning trading session.
Thereafter, the markets consolidated for some time till mid-afternoon.
The last hour of trading erased all the morning gains and brought down the nifty in the red at closing bell.
Finally at closing bell, the Nifty ended at 14,296 ( -63) whereas the Sensex closed at 47705 (-243).
Amongst the Stocks , UltraTech Cement, HCL Tech, HDFC, Tech Mahindra, HDFC Bank and HUL lost the most on Tuesday.
On the Positive side was Bajaj Finserv, Dr Reddy's, Bajaj Finance, Bajaj Auto and Maruti.
Most Market analysts believe that the markets volatile in the near term.
The Pharma Sector and the Metals Sectors will be keenly watched by the traders.
The Foreign institutional investors sold on Wednesday Rs 1082 Crores whereas the Domestic institutional investors bought Rs 1323 Crores.
FII’s starting to buy only will help the bulls to make a comeback towards 14400-14500 nifty levels.
Most experts expect the indices to continue to be volatile. The negative sentiments will continue for sometime due to covid related concerns.
There seems to be a possibility of the Pharma Sector, Metals going up in the coming days.
The private banks like Icici Bank , Federal Bank, Indusind Bank will move up in case of any positive triggers.
PSU Banks 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 relatively weak due to profit booking.
Tata Motors, Ashok Leyland, Tvs Motors will be in the radar of traders.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength on the basis of excellent results.
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 have turned bearish with traders looking for positive local cues for taking nifty upwards to 14500 levels..
The stocks to keep an eye on in the Indian equity markets will be the Pharma, I.T Sector, Cement Sector Stocks.
# 5 Banking Stocks: Icici Bank , Federal Bank , Axis Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: , Bajaj Finserve, Bajaj Finance, HDFC LTD, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Cadila, Lauras Labs, DrReddy’s, Divi’s Lab, Sun Pharma.
#5 Information Technology Stocks: LTTS, HCL Tech, Infosys, TCS, Co- Forge.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
India Bulls Housing, Maruti , JSW Steel, Reliance, Tata Motors,Ultratech , Aarti Durgs ,Graphite, Ashok Leyland, Bandhan Bank.
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-
22th APRIL Stock Picks — India Bulls Housing, JSW Steel, Maruti.
( Watch YouTube Video Analysis here– https://youtu.be/SlJk8w4l9OI )
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Cheerful Trading !!
