The Indian Equity Markets on Tuesday opened in green in the early morning session.
Then the Nifty did trend upwards for the most part of the day until a sudden sell-off in some stocks towards the closing did bring the Nifty to close marginally in the red.
Tata Motors fell nearly 10 % towards the end of the day due to some news related to JLR sales being impacted due to chips shortage.
Tech Mahindra, TCS, Maruti, Reliance, Sun Pharma, and Infosys were the main losers in trade on Tuesdays' volatile day of trading.
On the other hand, UltraTech Cement, HDFC Bank, Bajaj Finance, Titan and ICICI Bank closed in positive zone.
It was seen that financials were showing tremendous strength while the I.T Sector looked weak throughout the day.
After a positively trading for the most part of the day, The Nifty gave up all the gains in the last hour of trade and markets finally closed with Nifty at 15,818(-16 ) whereas the Sensex ended positively at 52,861(-18).
Most Analysts believe that the Indian equity markets with the support from the financials can scale higher levels this week.
Little Buying support from the Fii’s can be a major factor for the upward momentum in the Indian equity markets.
The Foreign institutional investors Sold on Tuesday Rs 543 Crores whereas Domestic institutional investors bought Rs 521 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 upwards towards 16000-16200 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 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 Infosys , TCS, Tech Mahindra, Wipro, Co-forge and Mastek can move up quickly on the back of good results expected in the coming days.
The Mid- Cap I.T. Stocks like Mastek, LT Infotech, Intellect Design, LTTS, Sonata Software also can be watched keenly for an upwards move in the days to come.
Pharma stocks like Cipla, Wockhardt, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, and Sun Pharma are expected to give good returns in the short term.
The general Sentiments continue to be bullish 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: Federal Bank, HDFC Bank, Indusind Bank, Icici Bank, Axis 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: LTTS, LTI, Mastek, Tech Mahindra, TCS.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
LTTS, Mastek, PI Industries, Tata Motors, Bandhan Bank, RBL Bank, India Bull's housing, SBI, Rbl Bank, M&M.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
7th July Stock Picks — Asain Paints, BEL, Indusind Bank.
( Watch YouTube Video Analysis here –https://youtu.be/8JbTcmg9z4w )
After a listless 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!
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