Wednesday’s trading session was an upward trending trading session in the Indian equity markets.
As predicted in the Morning Market outlook of 26th May, the Indian equity markets had an upward trending day with a strong closing in between 15300-15400 nifty levels.
Bajaj Finserv, Bajaj Finance, Infosys, M&M, Maruti and HDFC were the main gainers on trade on Wednesday.
On the losing side were PowerGrid, NTPC, ONGC and Kotak Bank in a positively trending market session.
Sectorwise Financials , IT stocks, Pharma barring metals witnessed sharp rebound after positive commentary of most managements in this results season.
Finally, at the closing bell, the Nifty closed strongly at 15301(+93) whereas Sensex ended at 51,017 (+ 380).
Most Analysts believe that the improved visibility about economic recovery and better covid-19 situation as compared to last month is lifting the investors' sentiments.
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 bought on Wednesday Rs 241 Crores while the Domestic institutional investors sold Rs 4382 Crores.
FII’s starting to buy in a big way will help the bulls to make a move towards 15500 nifty levels.
Most experts expect the indices to continue to be positive with the expiry expected at 15400-15500 Nifty levels.
There seems to be a possibility of the Banking, I.T., Pharma Sector, going up in the coming days.
PSU Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in SIP manner for decent gains in near future.
The private banks like HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
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. Mid cap I.T stocks were very strong on wednesday and is likely to continue the same on Thursday.
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, 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-
27th MAY Stock Picks — Axis Bank, Indusind Bank, L&T Finance.
( Watch YouTube Video Analysis here– https://youtu.be/ctyowuICTSo)
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Cheerful Trading !!
