The Indian Equity Markets on Tuesday opened in green in the early morning session. However, on the back of strong negative cues from the Chinese markets, the Nifty did trend downwards for the most part of the day and did close weakly towards the closing bell.
Dr. Reddy's, Axis Bank, Sun Pharma, Kotak Bank, HDFC, and ITC were the main losers in trade on Tuesday’s volatile day of trading in the Indian equity markets.
On the other hand, Tata Steel, Bajaj Finserv, SBI, Bajaj Finance, and Tech Mahindra were among the gainers.
The Markets opened in the early morning session on a positive note but soon the negative news flow from the Chinese Markets resulted in the downtrends and related volatility in the Indian equity markets till the closing bell.
After starting the day in slightly positive zone, The did slide further downwards during the day and finally ended up at closing bell at 15746(-78) levels whereas the Sensex closed at 52,578(-273)levels.
Dr. Reddy was the top loser on the back of below the expected results.
Most analysts believe that the Stocks gave up gains as investors were nervous on selling across Chinese markets.
In the interesting day of trading, there was profit booking across banks and the pharma pack on account of negative news flow. It was observed that certain pockets like textile exporters and coffee stocks posted smart gains.
The Foreign institutional investors Sold on Tuesday Rs 1459 Crores whereas Domestic institutional investors bought Rs 729 Crores.
If the FII’s resume to buy in a big way, then it will be a big positive for the up move in the markets. Most analysts are expecting the markets to consolidate in this range of 15600-15900 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
There seems to be a possibility of the banking and financial sector bouncing back to higher levels.
The 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 ICICI Bank, Axis Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T majors like Infosys, Mphasis, TCS, HCL TECH, Tech Mahindra, Wipro, Co-forge, and Mastek can move up quickly in the coming days.
The Mid- Cap 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 Cipla, Wockhardt, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, and Sun Pharma are expected to be under pressure due to Dr. Reddy's give good returns in the short term.
The general Sentiments continue to be sideways 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: Axis Bank, Indusind Bank, Icici Bank, Federal Bank, Canara Bank.
#5 NBFC Stocks: PEL, Shriram Transport, India Bulls Housing Finance, HDFC LTD, Bajaj Finance.
# 5 Pharma Stocks: Wockhardt, Divi’s Lab, Cadila, Glenmark Pharma, Sun Pharma.
#5 Information Technology Stocks: Mphasis, LTI, Mastek, Tech Mahindra, TCS.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
LTTS, Titagarh Wagons, IGSEC Heavy Engineering, Mastek, PI Industries, Bandhan Bank, Equitas Holding, India Bull's housing, SBI, Gujarat Alkalies.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
27th July Stock Picks — Mindtree, Wipro.
( Watch YouTube Video Analysis here – https://youtu.be/MI9VdzUHo1k )
After a volatile day of trading on Tuesday, the view is that the Indian equity markets will go higher if Fii continues to Buy in a big way.
Most Analysts expect the markets to reach 16000--16200 levels for the near term.
Best wishes for a Profitable Wednesday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
Best wishes for a Cheerful Wednesday in the Indian equity markets!
