The Indian Equity Markets opened on Wednesday strongly in the green zone and then consolidated during the day . Post noon, the Indian equity indices gave up some gains but still managed to close at all-time highs ever.
HDFC, Kotak Bank, ICICI Bank, SBI, HDFC Bank, and Axis Bank were the main gainers in trade on a trending day of trading.
On the other hand, Titan, Nestle India, Ultratech Cement, and Sun Pharma were among the losers.
After opening in the green in early morning trades, the Nifty did consolidate and Closed strongly at Lifetime highs of 16246(+128 ) whereas the Sensex ended at the closing bell at a record 54,369(+546).
Most analysts feel With HDFC, ICICI BANK, and SBI leading the way, the Bank nifty is all poised to make a decisive move towards its all-time high in the days to come.
Experts say that the financials were the sole driving force for the market rally on Wednesday, which was triggered after a better-than-expected June quarter performance reported by SBI.
Futter the positive cues from global equities also lifted sentiments in the Indian equity markets.
The Foreign institutional investors Bought Rs 2828 Crores while the Domestic institutional investors Sold Rs 414 Crores.
The FII’s resuming to buy in a big way for the last 2 days will help the bulls to make a move towards 16400 nifty levels soon.
Most experts expect the indices to continue to be upwards with the expiry expected at 16300-400 Nifty levels.
There seems to be a possibility of the Banking & Financials, I.T. , 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 – HDFC Ltd, 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 16500 Levels.
The stocks to keep an eye on in the Indian equity markets will be the Banking Sector, I.T Sector, Pharma Sector Stocks.
# 5 Banking Stocks: Axis Bank, Icici Bank, Federal Bank, HDFC Bank, Indusind Bank.
#5 NBFC Stocks: HDFC LTD, India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, PEL.
# 5 Pharma Stocks: Divi Labs, Cadila, Cipla, Dr. Reddy’s, Sun Pharma.
#5 Information Technology Stocks: LTTS, Mastek, TCS, Mphasis, Cyient.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Tata Metallics, Graphite, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, Munjal Auto, Sail, Ashok Leyland, Minda Industries.
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-
5th August Stock Picks — Asain Paints, Chola Finance, HCL Tech, Tech Mahindra.
( Watch YouTube Video Analysis here– https://youtu.be/wSAAD4q-_Y0 )
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