The Indian equity markets consolidated and closed strongly on Wednesday at the closing bell.
It is very interestingly poised on the expiry day on Thursday with both Nifty and Bank Nifty at crucial levels towards its journey towards 14,000 nifty levels.
Both the Nifty and Sensex traded similar to the past few days' trends of opening and consolidating in a range. Then the markets gave a chance for everyone to buy on dips before moving up towards the higher levels at the closing bell.
This Thursday, The cues from U.S. Market’s Wednesday closing was mixed with NASDAQ closing positively at 12658(+63).
The S&P closed at 3701 (+6).
The Dow Jones closed in negative territory at 30,154(-44).
In the early Markets This Thursday Morning, the stocks will look to consolidate in the initial hour of trading. Then the markets may move depending on the cues from the SGX Nifty, Dow Jones Futures Today, and European Markets opening.
For the last 3 consecutive days, The Indian equity market’s is showing a similar pattern of trading during the day.
In the morning it consolidates and then gives the traders a chance to buy on dips.
In the Afternoon as the European markets open, the Indian equity markets make it moves upwards and finish strongly in the positive.
The same pattern happened on Wednesday too in the Indian equity markets.
At Wednesday’s Closing Bell, Nifty closed the day strongly in the positive.
Nifty managed to close strongly in the green at 13,682 (+114) levels.
The Sensex closed at 46,666, (+403) whereas Bank Nifty closed at 30,698(+7) levels in the Indian equity markets on Wednesday.
The NBFC stocks and banking stocks like HDFC, HDFC BANK, Bajaj Finance, LIC Housing finance lead the way by gaining anywhere between 2% to 4%.
The I.T. Large caps like Infosys and TCS did close with some positive gains whereas HCL Technologies was subdued on Wednesday.
The Real estate stocks like IB Housing, Godrej Properties traded with 5%+ gains whereas the Energy pack of NTPC, Gail, BPCL had a minor dip day.
The Foreign institutional investors continued to buy with the Wednesday figures at Rs 2484 crores.
The Domestic institutional investors continued to sell with Wednesday figures at Rs2666 crores.
On Wednesday, The U.S. Markets Closing was mixed with NASDAQ closing positively at 12658(+63).
The S&P closed at 3701 (+6).
The DowJones Index closed in negative territory at 30,154(-44).
Many analysts believe that Indian equity markets will be opening subdued on Thursday morning. They expect the Indices to move depending on the cues from SGX Nifty, U.S. Dow Jones Futures and European Markets opening.
The HDFC Twins- HDFC & HDFC Bank, Bajaj Twins –Bajaj Finance and Bajaj Finserve will be keen under the radar of most for trades on Thursday.
These stocks which lead the nifty comeback on Tuesday and Wednesday will look to take forward the momentum further upwards on Thursday .
The Other Stocks to watch out on Wednesday will be LIC housing finance, IB housing Finance and smaller stocks like Mahindra and Mahindra financial services.
The private banks like Indusind bank, ICICI Bank, Axis bank and Sbi which had a minor correction will look to resume its upward trend.
The Insurance Stocks like Hdfc Standard life, Sbi life also will be keenly watched for any positive momentum.
The stock to watch out in this sector are BPCL, ONGC, NTPC, HPCL and Coal India. The Disinvestment related news and activitiesin BPCL can always have a positive trigger for BPCL and the entire energy sector in the near term.
FMCG stocks had a mixed day with HUL in positive territory and Britannia ending Wednesday on negative side.
The I.T. Large cap Stocks like TCS, Infosys opened in the green on Wednesday and continued gradually moved toward the higher side towards the last hours of trade.
HCL Technologies was subdued whereas Tech Mahindra was in the slightly negative territory.
The Large Caps like Reliance was flat whereas and L& T in the positive side.
Pharma stocks like, Dr Reddy, Divi’s Lab, Cipla, Sun Pharma, cadila all closed in the positive territory on Wednesday.
The stocks to keep an eye on in the Indian equity markets will be the Banks,NBFC Stocks, I.T.Stocks, Energy sector stocks, And the Pharma Stocks.
HDFC, HDFC BANK, IB Housing finance, LIC Housing finance, Bajaj Finance, Bajaj finserve, Indusind bank, Infosys, TCS, and HCL Technologies.
The other stocks which can be active are Reliance, Bharti Airtel, Adani Enterprise, Adani Post, BPCL, Bharat Forge, Maruti, Ashok Leyland, and Tata Motors.
Most Equity Market Pundits are of the opinion that Positive outlook for Indian equity markets will continue on Thursday.
They anticipate some volatility with Thursday expiry playing its part in the upwards and downward movements of stocks.
After keenly observing the initial hour of trading, it would be a great idea to get into sectors that are showing momentum to make the most of the potential opportunities.
Since the Indian equity markets are at high levels, most experts are alerting a word of caution and advising against taking heavily leveraged trades on either side.
Main Stocks to watch out for This Thursday in the Indian equity markets!
HDFC, IB Housing Finance, Bajaj Finance, Bajaj Finserve, HDFC, HDFC Bank, Indusind Bank, ICICI Bank, Shriram Transport Finance, and Piramal Enterprise Limited.
Infosys, TCS, Tech Mahindra, HCL Technologies, Wipro.
Bharti Airtel, Reliance, BPCL, Bharat Forge, Maruti, Adani Enterprise, Adani Port,
Shriram Transport finance, Piramal Enterprise Limited, Mahindra and Mahindra Financial Services .
Since the cues from U.S Markets Wednesday are Mixed For the Indian Markets, Analysts are anticipating a consolidating start on Thursday morning.
It will be fascinating to see if the Indian equity markets continue its upward trend and manage to close on a positive note on Thursday Expiry Day.
Tips Worth following for becoming a successful trader and investor in the Indian equity markets.
# Everyone needs a safety net and that safety net in stock markets is a detailed trading and investment plan.
“Best wishes for a exciting trading day in the Indian equities markets!
Cheerful Trading !!
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