The Indian Equity Markets opened flatish and did slide marginally lower in the early morning session. Then the benchmark consolidated throughout the mid-afternoon. Towards the closing bell, some late buying did allow the Nifty to end the day from where it started in the morning.
IndusInd Bank, PowerGrid, Reliance Industries, Bajaj Auto and Maruti were the ones which helped nifty closing strongly towards the closing bell.
ITC ,Tech Mahindra, Axis Bank, Asian Paints, TCS, HCL Tech, HDFC and Kotak Bank were the main losers in Wednesdays trading session.
Finally at Closing Bell, the Nifty ended at 15,576(+1) whereas the Sensex ended at 51,849(-85).
The Wednesdays trading session was volatile due to the nervousness before the MPC policy meet on 4th June.
During the most part of the trading day, selling was seen in financials, IT and FMCG stocks even though they managed to recover towards the closing bell.
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 921 Crores while the Domestic institutional investors bought Rs 241 Crores.
FII’s starting to buy in a big way will help the bulls to make a move towards 15700 nifty levels.
Most experts expect the indices to continue to be positive with the expiry expected at 15600-15700 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 RBL Bank, Axis Bank, HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
NBFC’S –India Bulls Housing Finance, 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 had a subdued day on wednesday and are likely to continue to regain some strength n Thursday.
Tata Motors, Ashok Leyland, Tvs Motors will be in the radar of traders.
Pharma stocks like 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 15700-15800 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: RBL Bank, Icici Bank , Federal Bank , Indusind Bank, Kotak Bank.
#5 NBFC Stocks: India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, HDFC LTD, PEL.
# 5 Pharma Stocks: Lauras Labs, Cadila, Cipla, Dr Reddy’s, Sun Pharma.
#5 Information Technology Stocks: Mastek, 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 due to expiry.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
3rd June Stock Picks — India Bulls Housing Finance, JSW Steel, M&M, M&M Finance.
( Watch YouTube Video Analysis here–https://youtu.be/z1a1GdxsQ4Y )
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Cheerful Trading !!
