The Tuesday trading session in the Indian equity markets was a day of consolidation with the indices closing marginally in the green
Indian equity markets started the day with a marginal gap up opening .The selling pressure brought down the nifty towards the 14600 support zone.
The BSE healthcare ,Metals and Realty indices showed strength in the early morning trade while banking sector saw weakness.
Among individual stocks, a price and volume spike was seen in SAIL, Navin Fluorine International and Granules ,Graphite , HEG.
Some of the stocks likeTata Steel, Sobha, SRF, Infosys, hit a fresh 52-week high.
Asian Paints was the top gainer in the Sensex pack, rising 4 per cent, followed by Sun Pharma, HUL, HDFC, Dr Reddy's, Nestle India and M&M.
On the other hand, PowerGrid, Axis Bank, IndusInd Bank, UltraTech Cement and ICICI Bank were among the losing stocks on tuesday.
The Nifty Metal index made a fresh 52-week high with JSW Steel, SAIL, Jindal Steel, Vedanta and Tata Steel - also hitting their 52-week highs.
At closing bell , the Nifty ended with marginal gains on Tuesday. The days session was in the midst of high volatility .There was concerns over the economic impact of the second wave of coronavirus infections in the country.
The Nifty finally closed at 14,683(+45),the BSE Sensex at 49201 (+42) and the bank nifty at 32501 (-177).
The Foreign institutional investors sold on Tuesday Rs 1092 Crores whereas Domestic institutional investors sold Rs 416 Crores.
If the FII’s start to buy then it will be a big positive for the upmove in the markets . Most analysts are expecting the markets upwards towards 15000 nifty levels.
The U.S. Markets closed on tuesday with strong positive cues as Dow Jones closed in at 33,430( -96) , S&P at 4073 (-3 ) whereas NASDAQ closed in at 13698 (-7).
For the coming week, most analysts believe that Indian markets will be trending upwards if the Foreign institutional investors resume buying and there is positive global cues.
Most experts expect that if FII’S starting to buy again, the indices will continue to trend upwards for the coming few days. The out come and policy initiatives coming from the RBI meet on wednesday will decide the direction of the indian equity markets for the near term.
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 to higher levels depending on positive outcomes from RBI meet.
The pharma and Metals also will be keenly watched by the traders since both the sectors showed tremendous strength on Tuesday.
Private banks like HDFC Bank , ICICI Bank, Bandan Bank, Indusind Bank , Kotak Bank , Axis Bank, Federal Bank, will look to consolidate and move further up.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda is likely to go up further in the coming days
NBFC’S – Bajaj Finance , Mahindra and Mahindra Financial Services, PEL, Bajaj finserve, Shriram Transport Finance will under the radar of the traders.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, Co-forge and HCL Tech are looking very strong and these stocks can move up quickly.
The Mid- Cap I.T. Stocks like Mastek, Intellect Design, Sonata Software also can be watched keenly for any upwards move in the days to come.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to gain from here as the broader market looks to maintain the upwards momentum from Tuesday’s session.
Pharma stocks like Glenmark Pharma, Lupin, Divi’s Lab , Dr Reddy’s, Cipla, Sun Pharma, and Cadila are expected to give good returns in the short term.
The general Sentiments in the market seemed to have midly positive.The traders will be looking for global cues and RBI meet outcomes 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: RBL Bank , HDFC Bank , Indusind Bank, Axis Bank, ICICI Bank.
#5 NBFC Stocks: PET , HDFC LTD, IBull Housing, Shriram Transport, Bajaj Finserve.
# 5 Pharma Stocks: Cipla, Lupin, DrReddy’s, Divi’s Lab, Glenmark Pharma.
#5 Information Technology Stocks: Co-forge , Tech Mahindra , TCS, HCL TECH, Wipro.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Ashok Leyland , Bajaj Finance,Chola Finance , India Bulls housing , SBI,Rbl Bank , Tata Motors , Deepak Nitrate, Adani Port , Bandhan Bank .
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
7TH April March Stock Picks — Ashok Leyland , Bajaj Finance,Chola Finance , India Bulls housing , SBI
( Watch YouTube Video Analysis here – https://youtu.be/c_iy59Mk5D8 )
After a positive day of trading on Tuesday , the view is that the Indian equity Markets is that the bulls will to be back with a little help from the RBI meet outcomes .
There can be a period of consolidation before an upmove in the coming days.
Most Analysts expect the markets to reach new highs in this April expiry.
Best wishes for a Profitable Wednesday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
We do conduct Pre-Market Analysis webinars daily in the morning. You can join this live webinar of today through our Facebook Page & Youtube Channel.
Cheerful Trading !!
