The Tuesday trading session in the Indian equity markets was a day of consolidation with the bulls and bears trying to control the direction of the markets. Indian equity markets opened gap up and then couldn't scale higher due to continuous profit booking at higher levels.
Asian Paints , Titan, Bajaj Finserv, ONGC, Infosys and TCS were the main gainers amongst the Large Caps in Tuesday’s trading Session.
HDFC Bank, Axis Bank, Reliance Industries, IndusInd Bank, HDFC and ITC on the other hand were among the losers.
The Indian Equity Markets ended on a flatish note after consolidation phase on Tuesday. Most of the investors booked profits at higher levels to gain from the market's sharp recovery over the past few sessions.
Finally at closing bell, the Nifty closed at 15,208 (+10) whereas the Sensex ended at 50,637 (-14).
Sectorwise, BFSIs was under pressure and witnessed some profit-booking while the metals sector tried to make a comeback after weakness in the last couple of sessions.
Analysts believe that investors will continue to focus on the trajectory of daily COVID-19 cases and vaccination ramp up in the country in the near term.
The sentiments in the global markets have turned bullish in the last couple of days and the same will be a factor in the coming days.
The Foreign institutional investors bought on Tuesday Rs 959 Crores while Domestic institutional investors sold Rs 563Crores.
If the FII’s continue to buy then it will be a big positive for the upmove in the markets. Most analysts are expecting the markets upwards towards 15400-15500 nifty levels in the near term.
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
The PSU sector was in the limelight on tuesday and the same is expected on Wednesday too.
There seems to be a possibility of the banking and financial sector bouncing bank to higher levels.
The OMC, Metals & Chemicals Sector also will be keenly watched by the traders.
PSU Banks like Canara Bank; Bank of Baroda, Showed good momentum in the last few trading sessions. They are 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.
Private banks like HDFC Bank, ICICI Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Axis Bank, Federal Bank, will look to scale higher from hereon.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, Co-forge and HCL Tech can move up quickly.
The Mid- Cap I.T. Stocks like LT Infotech, Mastek, Intellect Design, Sonata Software also can be watched keenly for any upwards move in the days to come.
Pharma stocks like Wockhardt, Cadila, Glenmark Pharma, Lupin, Divi’s Lab , Dr Reddy’s, Cipla and Sun Pharma are expected to give good returns in the short term.
Cement stocks like Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to gain from here.
The general Sentiments in the market seemed to have turned bullish. 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 PSU sector, OMC, Chemicals Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Icici Bank, Rbl Bank, HDFC Bank , Indusind Bank, Axis Bank.
#5 NBFC Stocks: IBull Housing, Shriram Transport, Bajaj Finserve, PEL, HDFC LTD.
# 5 Pharma Stocks: Cadila, DrReddy’s, Divi’s Lab, Glenmark Pharma, Sun Pharma.
#5 Information Technology Stocks: LTTS, Tech Mahindra , TCS, HCL TECH, Wipro.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
PI Industries, Tata Motors, L&T, Bandhan Bank, Motherson Sumi, India Bulls housing , SBI,Rbl Bank ,Hindalco, M&M.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
26TH MAY March Stock Picks — Coforge, Federal Bank, Icici Bank.
( Watch YouTube Video Analysis here – https://youtu.be/QlQVj23j5-0)
After a consolidation day of trading on Tuesday, the view is that the Indian equity markets will go higher if Fii continues to Buy.
Most Analysts expect the markets to reach 15400-15500 levels for the near term.
Best wishes for a Profitable Wednesday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
