It was a day of consolidation on Tuesday after Monday's big up move in the Indian Equity Market. The Indian equity Indices closed with overall positive sentiments intact in a day of ups and downs trading session.
The day started with a fresh record high in the morning on February 16 .A Correction in the afternoon dragged the benchmark indices to close lower, thanks to selling in private banks, FMCG and IT stocks.
The BSE Sensex declined 49.96 points to 52,104.17, while the Nifty50 fell 1.20 points to 15,313.50 and the bank nifty closed the day at 37098 (-207) .
The overall sentiments seems to be of a positive outlook for the coming expiry. It will be interesting to see if the Nifty is able to close around 15400 or it comes down to 15100 for the Thursday expiry.a
Most experts expect the indices to continue their positive momentum forward from Tuesday’s consolidation session and move towards the 15400-15400 nifty levels in the near term.
The Global Markets trading in the positive territory will definitely help nifty scale up to 15500 levels during this week.
The Foreign institutional investors sold on Friday Rs1144 Crores whereas Domestic institutional investors sold Rs1559 Crores.
FII’s resuming to buy will be the key to the markets upwards movement in the near term.
Rbl Bank , Bandan Bank , Indus Bank , Axis Bank, ICICI Bank, HDFC Bank, Federal Bank will continue to be in limelight and expected to do well on Wednesday.
Some of the other stocks which can be active on Wednesday are the Psu banks like Sbi, Bank of Baroda, and PNB, Canara Bank etc.
The insurance sectors stocks Hdfc standard life ,Sbi Life and Max financial services will be bought at every dips due to favourable future business outlook.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look go up in the coming days after a consolidation on Tuesday’s session.
Infosys, Tech Mahindra , TCS ,Wipro have been consolidating for the last couple of weeks and is being sold into on every rise .The I.T. Stocks are poised for an up move and can be accumulated at lower levels for substantial gains in the near term.
Pharma stocks like Divi’s Lab, Sun Pharma, Cadila and Cement stocks like ACC, and Grasim are Likely to show strength as the broader market looks to regain lost ground.
Also Bharat Forge, Bharti Airtel, Maruti, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders.
The general Sentiments in the market seem to be Bullish for the rest of the days of this week.
The stocks to keep an eye on in the Indian equity markets will be the Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: RBL Bank , Bandan Bank , Axis Bank, ICICI Bank, Indusind Bank.
#5 NBFC Stocks: Bajaj Finance, Bajaj Fin serves, HDFC Ltd, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Lupin, Biocon, Sun Pharma, Dr Reddy’s, Divi’s Lab,
#5 Information Technology Stocks: Tech Mahindra, Co forge, Infosys, TCS, L&T Technology.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Maruti, Tata Motors, Ashok Leyland, Reliance, Adani Port, Grasim, Bharti Airtel, HDFC Standard Life, Bharat Forge, Tata Elixsi.
Analysts are guiding a positive week for the Indian equity markets on the basis of a favourable breakout above 15250 Nifty levels.
It will be interesting to watch if the nifty manages to move towards 15400-15500 levels in the coming days.
The company reported a higher profit at Rs 483.3 crore in Q4CY20 against Rs 472.6 crore in Q4CY19; revenue rose to Rs 3,432.6 crore from Rs 3,149.3 crore YoY.
Heritage Novandie Foods, a 50:50 joint venture company between Heritage Foods and Novandie, France started commercial production.
The US subsidiary completed the acquisition of an automated new business and underwriting platform from STEP Solutions.
The company earmarked Rs 10,000 crore to build a new gateway into Maharashtra and acquired Dighi Ports for Rs 705 crore.
The company closed a rights issue of Rs 2,998.61 crore, which was oversubscribed by 15 percent.
The company signed a Memorandum of Understanding with the Tamil Nadu government to facilitate the investment program of Rs 1,000 crore.
Pasupati Spinning, Sanghvi Forging and Engineering, SR Industries, Uniply Decor and Uniply Industries will announce their quarterly earnings on February 17.
One stock - SAIL - is under the F&O ban for February 17.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
17th February Picks — Bandhan Bank, Kotak Bank, M&M Financial Services, Reliance.
(Watch YouTube Video Analysis here – https://youtu.be/70a8zr1VHVk)
After a day of consolidation on Tuesday, the Trading view is that the Indian equity Markets will be trying to move upwards on Wednesday.
Most Analyst expect the weekly expiry on Thursday to be around 15400 nifty levels.
Best wishes for a Cheerful Day in the Indian equity markets!
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