6 stocks to buy or sell today — February 22
Today’s trading guide for Tuesday: Weakness in the choppy move continued in India’s stock market for the fourth straight session on Monday, as investors watched developments in Ukraine after Russia rescinded earlier promises to withdraw tens of thousands of its troops from the northern border of Ukraine. Nifty 50 plunged 69 points and closed at 17,206 while BSE Sensex lost 149 points and closed at 57,683 levels. However, the Bank Nifty Index finished 86 points higher at 37,685 levels. According to stock market experts, the current market setup is showing high volatility in the market.
Guide to day trading: which global signal cues?
Speaking on the development of the Russia-Ukraine crisis; Anuj Gupta, Vice Chairman of IIFL Securities, said: “Following Russian President Vladimir Putin’s recognition of two breakaway regions in eastern Ukraine, investors are advised to keep an eye on the latest developments. of the Russian-Ukrainian conflict”. He said the latest news from Russia and Ukraine suggests a negative trend for the global stock market and Indian markets may continue to trade choppy with a negative bias.
Anuj Gupta of IIFL Securities added, “SGX Nifty is also down today and I would advise intraday traders to keep in mind that the shorter range for SGX Nifty today will be 16,800-17,380 as the wider range will be 16,500-17,700. A breakout of a shorter range would mean further declines in the Indian indices.”
Vineet Bagri, Managing Partner at TrustPlutus Wealth, said: “The markets are nervous about the situation between Russia and Ukraine. On the bright side, a US-Iran deal could cause oil to cool and provide some much-needed respite from inflation.
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 continues to be choppy with range-bound action. There is still no strong evidence that Nifty is forming reversals. bottom around support at 17,100 levels Further weakness from here could open a next short-term downside target of 16,800 Immediate resistance for NSE Nifty is placed at 17,350 levels.
Ask intraday traders to keep in mind the short and wide range of Nifty and Bank Nifty; Sumeet Bagadia, Executive Director of Choice Broking, said: “For high-risk traders, the shorter NSE Nifty range is 17,100 to 17,350, while the shorter range for the Nifty Bank Index is 37. 300 to 38,000. Similarly, the wider NSE Nifty range is 17,000 to 17,500 the Nifty Bank index would be 37,000 to 38,300.”
Day trading stocks
Sharing day trading stocks to buy today; stock analysts — Sumeet Bagadia of Choice Broking; Anuj Gupta of IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities – recommended 6 stocks to buy or sell today.
Sumeet Bagadia Day Trading Stocks to Buy Today
1]Infosys or INFY: Buy from CMP, objective ₹1800, stop loss ₹1690
2]Glenmark: Buy from CMP, objective ₹470, stop loss ₹440
Anuj Gupta’s trading actions for today
3]Axis bank: Momentum buy at CMP, target ₹830, stop loss ₹735
4]Tata Engines: Buy from CMP, objective ₹530, stop loss ₹460
Avinash Gorakshkar’s trading day for Tuesday
5]HDFC bank: Buy from CMP, objective ₹1580, stop loss ₹1495
6]Tata Consumer: Buy from CMP, objective ₹755, stop loss ₹695.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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