In a highly volatile session, the Indian Stock market ended flat on Tuesday, 23 February. Including Tata Steel, ONGC, and MMTC, more than 150 stocks had hit a fresh 52-week high on the BSE.
The Nifty ended the day with profit booking at 14,707.80 (+32.10), Sensex at 49,751 (+7.09), and Bank nifty at 35,257.20 (-584.40).
Tata Steel, Tata Motors, ONGC, Hindalco and UPL were among the top gainers, while losers included Kotak Mahindra Bank, Maruti Suzuki, Bajaj Auto, Adani Ports and Divis Labs.
Experts feel if the index holds 14,600 levels in the coming sessions, which had also acted as a crucial support in previous falls, then there could be further upside.
Tata Steel & Blue Star are the 2 stocks recommended for the stocks to focus on Wednesday.
With the selling pressure of Best Agrolife, Akg Exim, Global Education, Novartis India, Ravinder Heights, Sanwaria Consumer and Valiant Organics, the Indian Stock Market on Tuesday saw a buying interest in Hindustan Copper, Sundaram Finance, Westlife Development, Tata Steel and Aditya Birla Capital.
The Foreign institutional investors sold on Tuesday Rs. 1569.04 Crores, and Domestic institutional investors bought Rs. 216.67 Crores.
FII’s resuming to buy in a big way will be the key to the market’s upwards movement in the near term.
The U.S. Markets closed flat on Tuesday with Dow Jones closing at 31,537.35 (+15.66), S&P closing at 3,881.37 (+4.87), and NASDAQ closing at 13,465.20 (-67.85).
For the coming week, most analysts believe that Indian stock markets can rise if the global markets support it, with positive news flow for it to close at 15200 levels for Thursday’s monthly expiry.
Indusind Bank, Axis Bank, ICICI Bank, HDFC Bank, Federal Bank will continue to be in limelight and trades can be expected on both sides in these banking stocks.
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 during last week.
Infosys, Tech Mahindra, TCS, Wipro have been consolidating for the last couple of weeks and showing signs of bouncing back. 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 mildly bearish with an opportunity to buy in dips for a bounce-back if global markets give positive cues.
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: Indusind Bank, Axis Bank, IDFC First Bank, HDFC Bank, Bank of Baroda.
#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:
Hero Motocorp, Maruti, Tata Motors, Ashok Leyland, Reliance, Adani Port, Grasim, Bharti Airtel, HDFC Standard Life, Tata Elixsi.
Four stocks – BHEL and PNB – are under the F&O ban for February 24.
Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
Jindal Steel, JSW Steel, Tata Chemicals, Tata Steel.
(Watch YouTube Video Analysis here – https://youtu.be/T0iiMQXeBYg)
The Indian Stock Market Trading view was bullish today and depending on global cues, the Indices might move upwards towards 14900 Nifty levels.
Most Analysts expect that a breakdown below 14650 nifty levels will bring it to around 14350 nifty levels.
Have Cheerful Trading Day in the Indian Stock Markets!
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.
