The Indian Equity Markets on Tuesday opened in the green in early morning trade. Then suddenly profit booking happened at higher levels and nifty did come down to 17300 levels.
HDFC, Bharti Airtel, IndusInd Bank, ITC, UltraTech Cement, Nestle India, and Asian Paints were the main gainers in trade.
On the other hand, Sun Pharma, Tech Mahindra, Axis Bank, HCL Tech, Infosys, and Tata Steel were among the losers.
After starting the day in the positive zone, The nifty did slide downwards toward 17300 levels before making a smart rebound towards the end of the day. The Indian equity markets finally ended flattish at closing bell levels of 17362(-15) levels whereas the Sensex closed at 58,279(-17).
The Indian Equity markets ended with mild losses on Tuesday after investors rushed to profit booking at higher levels amid weak cues from European markets.
The Market Experts feel that the Bulls will make a strong attempt to scale towards 17600 and higher for the September series.
The Foreign institutional investors Sold on Tuesday Rs 145Crores whereas Domestic institutional investors Sold Rs 136 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 17600 nifty levels in the Sept 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: RBL Bank, Indusind Bank, Icici Bank, Federal Bank, Canara 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: Wipro, LTI, LTTS, Mastek, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Fine Organics, SRF, ISGEC Heavy Engineering,Cyient, Gabriel India, Bandhan Bank, Godrej agro vet, Bank of Baroda, Gujarat Alkalies, Aarti Surfactants.
After a consolidating day of trading on Tuesday, the view is that the Indian equity markets will go higher from here on in the August Series.
Most Analysts expect the markets to reach 17600--17800 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!
