The Indian Equity Markets opened on Tuesday in the deep negative zone on the back of a global sell-off. The Indian equity indices slowly regained some ground but then gave up in the latter part of the day as Dow jones futures started fallingly and closed weakly towards the closing bell.
IndusInd Bank, Tata Steel, NTPC, Bharti Airtel, HCL Tech, ICICI Bank, M&M, and HDFC Bank were the top losers in trade on Tuesday weak markets.
On the other hand, Asian Paints rallied over 6 percent, followed by UltraTech Cement, Bajaj Auto, HUL, and Nestle India.
After starting the day in the negative zone, The Nifty did recover little for some time. Then as dow futures started to slide further, the nifty started to weaken and ended up at closing bell at 15,632(-120) levels whereas the Sensex closed at 52,198(-354)levels.
Most analysts feel that the Indian equity markets were in red as weak global cues and continued selling pressure in financials dragged benchmark indices.
The FMCG and IT did manage to show some strength while most other key sectoral indices contracted, with financials, metals, and realty witnessing steep correction.
The Global markets had recovered on Wednesday to close at highs with Dow Jones gaining 550 points and Nasdaq up nearly 225 points.
A Strong closing on Thursday 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 Tuesday’s trading.
Fii’s and Dii’s buy /sell figures on Tuesday.
The Foreign institutional investors Sold Wednesday Rs 2834 Crores while the Domestic institutional investors Bought Rs 873 Crores.
If FII’s resume to buy in a big way, It will help the bulls to make a move towards 16000 nifty levels on Thursday's Expiry day session.
Most experts expect the indices to continue to be positive with the expiry expected at 15950-16000 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, Rbl Bank, Icici Bank, Federal Bank, HDFC Bank
#5 NBFC Stocks: HDFC LTD, India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, PEL.
# 5 Pharma Stocks: Lauras 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 Metallics, LTI, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, Graphite, Eicher Motors, Ashok Leyland, M&M.
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-
22Th JULY Stock Picks —Bajaj Auto, Bajaj Finance, Maruti, Shriram transport Finance.
( Watch YouTube Video Analysis here–https://youtu.be/sTEggPHVNSc )
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