The Indian Equity Markets on Tuesday opened in the green in early morning trade. It was a day of volatile trade and the markets started to show strength on the back of I.T Stocks doing well but closed in the negative zone towards the closing bell.
HUL, Titan, Tata Steel, UltraTech Cement, and PowerGrid were the main losers on a day of highly volatile day of trading.
On the other hand, Tech Mahindra, L&T, Infosys, Bajaj Finserv, Kotak Bank, and HDFC Bank were among the gainers.
After starting the day in a positive zone, the volatility did increase lots with ups n downs happening frequently throughout the day . The Indian equity markets finally ended their seven-session rising with Nifty finally ending at the closing bell at 18418(-58) levels whereas the Sensex closed at 61,716(-49)
The Indian equity markets saw profit booking at higher levels even as the IT Index stood tall through the day which indeed had several bouts of volatility.
Market breadth too was weak with declines outpacing advances led by the big names of the FMCG sector. The broader markets clearly witnessed profit booking in several top-performing midcap names.
The Foreign institutional investors Sold on Tuesday Rs 505 Crores whereas Domestic institutional investors Sold Rs 2578 Crores.
The FII’s buying in a big way will definitely help the up move in the markets. Most analysts are expecting the markets to now trend upwards to 18600-18800 nifty levels in the October Series.
Most experts expect that if FII’S buying continues, the indices will go upwards in 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 back strongly to higher levels.
The I.T, Metals & Chemicals Sector also will be keenly watched by the traders.
NBFC’S – Bajaj Finance, Mahindra and Mahindra Financial Services, PEL, Bajaj fin serve, Shriram Transport Finance will be under the radar of the traders.
Private banks like HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T companies like Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, and Mastek are likely to move up quickly in the coming days.
The other I.T. Stocks like LT Infotech, Intellect Design, LTTS, Sonata Software also can be observed for an upwards move in the coming days.
Pharma stocks like Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be positive in the Indian equity markets. The traders will be looking for global cues for direction in the coming days.
The stocks to keep an eye on in the Indian equity markets will be the Banking and Financial Sector, PSU sector, I.T., OMC, Chemicals Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Kotak Bank, Indusind Bank, Icici Bank, Federal Bank, HDFC Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, Shriram Transport, India Bulls Housing Finance, HDFC LTD.
# 5 Pharma Stocks: Dr. Reddy's, Granules, Divi’s Lab, Cadila, Glenmark Pharma.
#5 Information Technology Stocks: Infosys, LTI, LTTS, Mastek, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
HCL Tech, Feim Industries, Fine Organics, Exide, Cyient, Gabriel India, Canara Bank, Sunteck Realty, Bank of Baroda, Gujarat Alkalies.
After a volatile day of trading on Tuesday, the view is that the Indian equity markets will be a volatile day on Wednesday and the days to come.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain
20th September Stock Picks–– HDFC Bank , Reliance Industries.
Watch YouTube Video Analysis here – https://youtu.be/-ed6tmQpS-8
Most Analysts expect the markets to reach 18600-18800 levels for the near term.
You can watch us live on every trading day on our Facebook Page and YouTube Channel with our Chart Pe Charcha wherein we discuss the respective trading strategy and the stocks.
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
Best wishes for a Cheerful Wednesday in the Indian equity markets!
