The Tuesday trading session in the Indian equity markets was volatile with ample opportunity to both buy on dips and sell on highs during the day.
The markets opened gap up little less than expected and the selling pressure at higher levels brought the nifty downwards towards 14900 levels.
The bank Nifty was more weaker than nifty and came under sustain selling pressure till mid-afternoon with most of the financials trading in the red.
The I.T Sector was the only one showing tremendous strength from the early morning trade.
The I.T. Major stocks as well as the Mid cap I.T. Stocks have a very good day.
The afternoon session again brought in some selling and finally at the closing bell, the NIFTY closed below 15000 levels at 14910 levels (-19), the Sensex at 50363(-31) and the bank nifty closed at 34804(-377).
L&T was the top loser in the Sensex pack, shedding 1.56 per cent, followed by ICIC Bank, SBI, Kotak Bank, HDFC Bank, NTPC, Axis Bank and Bajaj Finserv.
On the other hand, Asian Paints, Dr Reddy's, HCL Tech, HUL and Bharti Airtel were among the gainers.
Financials once again dragged the markets. Notably, IT stocks were in focus today mainly on expectations of sustained earnings momentum in 4QFY21E and benefits from possible fall in rupee.
The Foreign institutional investors Bought on Tuesday Rs 1692 Crores whereas Domestic institutional investors sold Rs 1168 Crores.
FII’s Resuming to buy in such big quantity is a big positive for the markets and if this continues , then most analysts are expecting the markets upwards towards 15400 nifty levels.
The U.S. Markets closed on Tuesday with Dow Jones closed in at 32,825 (-127), S&P at 3962 (-6) whereas NASDAQ closed in at 13471 (+11).
For the coming week, most analysts believe that Indian markets will be trending higher if the Foreign institutional investors continue buying like Tuesday and there is positive global cues.
Most experts expect that the FII'S has started to buy again after many day , the indices will to continue to trend upwards for the coming few days .
Stocks to watch out for this Wednesday Morning in the Indian Equity Markets
There seems to be a possibility of the banking and financial sector bouncing bank from the lows of Last couple of days Trade.
Private banks like Indusind Bank , Kotak Bank , Axis Bank, Icici Bank, Federal Bank, HDFC Bank will look to consolidate and move further up from Last week's lows.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did see some corrections last week and can be accumulated for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, and HCL Tech are looking very strong with the dollar strengthening and these stocks can move up quickly after a long period of consolidation.
The Mid- Cap I.T. Stocks like Mastek, Intellect Design, Sonata Software saw lots of positive momentum and the same is likely to move upwards in the days to come.
Also Tata Motors, Ashok Leyland, Gujarat Pipavav, had a subdued couple of days and they are expected to regain the positive up move in the near term.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength as the broader market looks to maintain the upwards momentum from Tuesday's session.
Pharma stocks like Divi's Lab , Dr Reddy’s, Lupin, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The general Sentiments in the market seemed to have turned positive again with the Fii's resuming buying on tuesday and traders will be looking for global cues to take the markets to new highs in the coming week.
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: Kotak Bank ,Indusind Bank, Axis Bank, HDFC Bank, ICICI Bank.
#5 NBFC Stocks: Bajaj Finance, HDFC LTD, PEL, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Lupin, Cipla, DrReddy’s, Divi’s Lab, Pharma.
#5 Information Technology Stocks: Infosys , Wipro , Tech Mahindra , TCS, HCL TECH, Co- Forge.
#10 Other Main Stocks to watch out for on this Tuesday Morning in the Indian Equity Markets:
Mastek, Sonata Software, Tata Power, Tata Motors , Deepak Nitrate, Graphite, Mahindra and Mahindra, Ashok Leyland, Adani Port, Adani Power.
Stocks in the news :
Shriram City Unioun Finance : The Banking and Securities Management Committee of the company on March 16, 2021, approved the issue of secured rated listed redeemable principal-protected market-linked (PP-MLD) non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each, aggregating up to 5,000 NCDs amounting to Rs 500 crore.
Karur Vysya Bank : The company informed that promotor S Nirupama pledged 40,000 shares of the company on March 12, 2021, with Bajaj Finserv.
Asian Hotels : The company informed in a regulatory filing that Saurabh Kirpal, an Independent Non-Executive Director of the company, submitted his resignation with effect from March 15, 2021.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
17th March Stock Picks — PEL, RELAINCE, BAJAJ FINANCE ,FEDERAL BANK.
( Watch YouTube Video Analysis here –https://youtu.be/-dc65f6V9ws )
After a consolidation day trading on Tuesday , the view is that the Indian equity Markets is that the bulls seems to be back with strong buying from Fii’s on Tuesday .
Most Analysts expect the markets to reach new highs in this March expiry.
Best wishes for a Profitable Wednesday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
