6 stocks to buy or sell today — February 15
Today’s trading guide for Tuesday: After an onset of weakness from Friday’s lower high, the stock market crash continued on Monday. NSE Nifty fell 531 points and closed at 16,842 while BSE Sensex fell 1747 points and closed at 56,405 levels. The Bank Nifty index fell 1608 points and closed at 36,908 levels. According to stock experts, Indian markets closed near lows on Monday and the opening bearish gap remains unfilled. They added that technically this pattern indicates a resumption of strong trend declines from a lower high. The current unclosed opening bearish gap could be considered a bearish gap.
Guide to day trading: which global signal cues?
Highlighting the reason for the ongoing stock market bloodbath; Anuj Gupta, Vice Chairman of IIFL Securities, said: “This stock market crash can be attributed to two major reasons – the escalation of the conflict between Russia and Ukraine leading to an increase in global inflation concerns after the sharp year-on-year increase in the US inflation rate over the past 40 years.In US markets on Monday, Dow Jones Futures lost 0.49% while SGX Nifty today trades at So I expect this secondary market weakness to continue as any upside should be viewed as a sell opportunity by traders.”
Advising traders to keep an eye on the live price of SGX Nifty, Anuj Gupta of IIFL Securities said, “The wider range for SGX Nifty today is 16,400-17,330 while the shorter range for the same is 16,680 to 17,050 levels. Breakout of any side should be seen as positive or negative trend for Indian markets.”
Daily trading guide for the stock market today
Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “Nifty’s short-term trend is strongly down. The overall negative chart pattern and a decisive downside break of the important support could indicate a continuation of the downtrend for the market ahead. the targets to watch at Nifty today are around 16,500 levels and 16,200 levels, which could be reached in the next couple of weeks. Any attempt to rebound may meet strong resistance around 16,950-17,000 levels.
Asking day traders to remember their levels; Sumeet Bagadia, Executive Director of Choice Broking, said: “High-risk traders should keep in mind that the shorter range for Nifty today is 16,800-17,100 while the wider range for Nifty 50 is 16,700 to 17,200. Similarly, the shorter range for the Nifty Bank Index is 36,500 to 37,300 while the wider range for the Bank Nifty Index is 36,000 to 37,700 levels.”
Day trading strategy for today
Unveiling of intraday trading strategy for Tuesday; Ruchit Jain, Lead Research at 5paisa.com, said: “Monday’s high of 17,100 at NSE Nifty will now be seen as immediate resistance and until Nifty recovers this level, selling pressure may be seen on Intraday setbacks.The Banking Index, which has been holding markets since last month also gave up on Monday and broke through its important short-term supports.Therefore, it is advisable to stay light on positions and avoid trades aggressive.”
Day Trading Stocks to Buy or Sell Today
Sharing day trading actions for today; stock market experts — Sumeet Bagadia of Choice Broking; Anuj Gupta, Vice President at IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 6 stocks to buy or sell today.
Sumeet Bagadia day trading stocks
1]Tata or TCS Consulting Services: Buy from CMP, objective ₹3850 to ₹4000, stop loss ₹3600
2]Vedanta: Sell to CMP, objective ₹350, stop loss ₹374
Avinash Gorakshkar’s day trading stocks to buy today
3]Cummins India: Buy from CMP, objective ₹985, stop loss ₹930
4]CGSB: Buy from CMP, objective ₹176, stop loss ₹161.50
Anuj Gupta shares to buy today
5]Indian cements: Buy from CMP, objective ₹210, stop loss ₹184
6]Hindustan Zinc: Buy from CMP, objective ₹335, stop loss ₹297.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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