The Fridays trading session in the Indian equity markets was a consolidation trading day with Bulls able to protect the 14500 levels till the closing bell.
The markets opened in the Green in the early morning session and traded in a narrow range for a considerable part of the day . The Bears did try to pull down the markets in the post noon session but buying support emerged around 2pm after the european markets open in positive territory.
The positive cues from the global markets and the long weekend weighed on the bears in the post noon session. The bulls did manage to defend 14500 levels and the Markets strongly ended in positive zone at the Closing Bell.
Finally at the closing bell, the NIFTY closed at 14507 levels (+182), the Sensex at 49008(+568) and the bank nifty closed at 33318(+331).
Indusind Bank , UPL, Eicher Motors , Power Grid were some of the losers on Friday's trading session.
Tata Steel, Tata Motors , Bajaj Finserve, Asian Paints, Ashok Leyland were among the gainers.
Last week, BSE Sensex fell 849.74 points or 1.70 percent to end at 49,008.5 and while the Nifty50 declined 236.7 points or 1.6 percent to close at 14,507.3 levels dragged by media, auto, and energy stocks. However, pharma stocks provided some support as the index added nearly 2 percent.
Most experts believe that the Nifty has to decisively move above 14,750 to break the consolidation range.
To sum up, A positive closing in the U.S. Markets on monday will help the Indian equity markets to gain further momentum and overcome the consolidation phase in the markets right now.
This week would be a truncated one for the Indian markets as markets was closed on March 29 for Holi and on April 2 on account of Good Friday.
The Foreign institutional investors sold on Friday Rs 50 Crores whereas Domestic institutional investors bought Rs 1703 Crores.
The U.S. Markets closed on Monday with relatively positive cues as Dow Jones closed in at 33,171(+98) , S&P at 3971 (-3 ) whereas NASDAQ closed in at 13059 (-59).
The SGX Nifty indicate a Gap up opening of nearly 100 points on early morning trading session.
Most experts expect the indices to continue to be in consolidation mode for the coming few days with the downward movement happening only if the US Markets come under selling pressure and FII’s don’t continue buying.
There seems to be a possibility of the banking and financial sector bouncing bank from the lows of Mondays Trade.
Private banks like Axis Bank, Icici Bank, Bandan Bank, Indusind Bank, Kotak Bank, HDFC Bank will look to consolidate and move further up from lows of March Series.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda have seen good corrections in March Series and can be accumulated for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will give good opportunity to buy on dips for April Series.
The Excellent Results from Accenture in U.S. can be a big trigger for all I.T. stocks in the coming results season. Also the Rising Covid cases in india will act as a cue for the market participants to move to I.T. Sector like the march 2020 phase.
The I.T Majors like Wipro, TCS, Infosys, Co-Forge , Tech Mahindra, and HCL Tech are looking strong and these stocks can move up quickly from here on.
Also Tata Motors, Ashok Leyland, showed some strength in anticipation of good auto sales numbers on 1st April. These stocks are expected to regain the positive up move in the near term if the general sentiments turn towards positive.
Cement stocks like Ambuja Cement, Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength as the broader market looks to maintain the upwards momentum .
Pharma stocks like Dr Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
Mukand: Mukand completed the transfer of approximately 55 acres of surplus leasehold land at Thane to NTT Global Data Centers Nav2 fo Rs 801.51 crore which will be utilised for debt repayment.
Adani Transmission: Adani Transmission has signed definitive agreements with Essel Infraprojects for acquisition of Warora-Kurnool Transmission (WKTL).
Vascon Engineers: Vascon Engineers has received letter of acceptance amounting to Rs 515.63 crore from Uttar Pradesh Public Works Department for establishment of new medical colleges.
Lumax Industries: Lumax Industries approved capital expenditure amounting up to Rs 80 crore for setting up of new manufacturing unit(s) in Sanand, Gujarat to cater to the orders received from MG Motors and other customers.
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Bandhan Bank, Indusind Bank, Axis Bank, ICICI Bank, Federal Bank.
#5 NBFC Stocks: Bajaj Finserve, Bajaj Finance, HDFC LTD, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Cadila , Cipla, DrReddy’s, Divi’s Lab, Lupin.
#5 Information Technology Stocks: Tech-Mahindra, TCS, HCL TECH, Co- Forge, Infosys.
#10 Other Main Stocks to watch out for on this Tuesday Morning in the Indian Equity Markets:
Adani Enterprise , Kotak Bank, Reliance , SBI , Ultra Cement, Deepak Nitrate, Graphite, Mahindra and Mahindra, Adani Port, Tata Power.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
30th March Stock Picks — Adani Enterprise , Kotak Bank, Reliance , SBI , Ultra Cement
( Watch YouTube Video Analysis here – https://youtu.be/qa70kPbiuS4 )
The SGX Nifty indicate a Gap up opening of nearly 100 points on early morning trading session.
After a positive trading day on Friday , the view is that for the Indian equity Markets the bulls will need strong buying from Fii’s to resume for it to decisively cross the 15000 Nifty levels this week.
Most Analysts expect the markets to reach new highs in this April expiry.
INDIAN EQUITY MARKETS THIS TUESDAY MORNING!
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Cheerful Trading !!
