The Positive Momentum from the Historic Budget continued on Thursday and the Indian Equity markets closed strongly.
In the Morning, All the Indices opened in the green and continued to show strength till last half an hour when the stocks did come down little bit on profit booking.
The Indian Equity Markets finally ended towards the higher end with Nifty closing at 14789 (+142), Sensex closing at 50,255(+458), and Bank Nifty at 34758 (+491).
On Wednesday, the Banks, Auto and Pharma Sector were the top sectors with IndusInd Bank, Axis Bank, Canara Bank, Bank of Baroda, Tata Motors, Ashok Leyland, Dr Reddy’s, Divi’s Lab, etc all had a positive day.
Infosys did show some strength during the early part of the day but gave up on the gains towards the closing.
Most experts expect the indices to be volatile on the expiry Thursday and expect the momentum to be taken forward towards the 15000 nifty levels. The Global Markets trading in the positive territory with assist the Nifty reaching 15000 levels in this week.
The Foreign institutional investors bought on Wednesday nearly Rs. 2520 Crores whereas Domestic institutional investors sold Rs. 400 Crores.
FII’s buying resuming in last 2 days will be a big positive for Nifty to reach 15000 levels.
The U.S. Markets closed positively on Wednesday with Dow Jones closing at 30,723(+36), S&P closing at 3829(+3) and NASDAQ closing at 13610(-2).
Many analysts believe that Indian markets will be continuing to trade higher this week unless there are sudden negative global cues.
IndusInd Bank, Axis Bank, ICICI Bank, HDFC bank, Federal Bank will continue to be in limelight and expected to do well on Thursday too.
Some of the other stocks which can be active on Wednesday are the PSU banks like Bank of Baroda, and PNB, Canara Bank etc.
The Insurance sector Stocks will be looking to gain some momentum with the budget related overhang getting over.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look go up after the strength shown on Yesterday’s trading.
Infosys, TCS, HCL Tech, Tech Mahindra will be in focus on Thursday as they have underperformed in the last few days and can be expected to go up anytime during this week.
Pharma stocks like Dr. Reddy’s, Divi’s Lab, Sun Pharma, Cadila did show some sort of strength and can be expected to gain further from here.
Cement stocks like ACC and Grasim is expected to continue with positive gains in the coming days.
Also Maruti, Bharat Forge, PEL, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders.
The general Sentiments in the market seem to have turned Bullish and the expiry related volatility may give the traders some dips during the day which seems to be bought into due to positive sentiments.
The Auto Sector, Banking & NBFC Sector I.T Stocks, Pharma Stocks, FMCG Stocks, and Cement sector Stocks will be the ones to be followed on Thursday.
#5 Information Technology Stocks: Tech Mahindra, Infosys, TCS, L&T Technology, HCL Technology.
# 5 Banking Stocks: Axis Bank, Indusind Bank , HDFC Bank, ICICI Bank, Bank of Baroda.
#5 NBFC Stocks: Bajaj Finance, Bajaj Fin serves, HDFC Ltd, Shriram Transport, and Chola Finance.
# 5 Pharma Stocks: Divi’s Lab, Dr Reddy’s, Lupin, Cadila, Cipla.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets
Bharti Airtel, IndusInd Bank, M&M & Tata Steel, Maruti, Reliance, Tata Motors, Ashok Leyland, Adani Port, Grasim.
Analysts are guiding a super expiry Thursday for the Indian equity markets on the basis of favorable sentiments aftermath of the Historic Budget.
All are expecting the Nifty to finally reach 15000 levels sooner than later.
#Stocks to Watch for Trading from Lakshmishree in-house Technical Expert Ansul Jain-
4th February Picks---Bharti Airtel ,Indusind Bank, M&M & Tata Steel.
(Watch YouTube Video Analysis here - https://youtu.be/n2eUsCLcnfM )
The Positive Momentum from the Budget will play a big part in Nifty touching the all time high of 15000 levels in the near term.
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Cheerful Trading !!
