The Indian Equity Markets opened on Wednesday in the positive zone even though the SGX nifty was showing negative cues. The Indian equity indices gained strength during the day and closed strongly towards the end.
Tata Steel, Bajaj Finserv, IndusInd Bank, HDFC, Nestle India, Asian Paints, and Sun Pharma were the main gainers in Trade on Wednesday.
On the other hand, Titan, Maruti, Reliance Industries and Tech Mahindra were the stocks which ended up in negative zone.
After a positively trending trading day , The Nifty ended up strongly towards the end to close with positive bias intact.
Finally the Nifty closing was at life time highs of 15,879( +61 ) whereas the Sensex ended positively at 53,054(+193) for a first time ever closing above 53000 levels.
TheIndian equity markets bounced back into the positive terrain in afternoon session mainly led by metal stocks.
Most analysts believe that the Cabinet reshuffle today created interest amongst market participants which saw some hectic activity financial sector, especially in smaller private sector banks.
The Foreign institutional investors Bought on Wednesday Rs 532 Crores while the Domestic institutional investors Sold Rs 231 Crores.
FII’s resuming to buy is a big posittive and 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 16000 Nifty levels.
There seems to be a possibility of the Metals, Banking & Financials, I.T., Pharma Sector, going up in the coming days.
The private banks showed tremendous strength on wednesday and is likely to Gain Further on Thursday.
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.
Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in SIP manner for decent gains in near future.
The I.T Majors are looking to bounce back in the coming days. Mid-cap I.T stocks are likely to continue to regain some strength n Thursday.
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 have turned Bullish 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: Bandhan 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: Mastek, Infosys, TCS, Co- Forge, Redington.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
Tata Steel, 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-
8th JULY Stock Picks —Ashok Leyland, Bandhan Bank, Hero motoCorp.
( Watch YouTube Video Analysis here–https://youtu.be/A6JwHgqyN4w)
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