Day Trading Guide for Friday: The Indian stock market witnessed bloodshed in Thursday’s trading session due to reports of Russia’s invasion of Ukraine. India’s secondary market remained under pressure throughout the day and selling intensified at the end of the day with major benchmark indices cutting nearly 5 per cent. The NSE Nifty registered its second worst day since March 2020 as the 50 stock index fell 815 points to end at 16,247, while the BSE Sensex lost 2,702 points to end at 54,529. Bank Nifty index closed at 35,228, down 2163 points. India VIX crossed the 32 mark, which was last seen in June 2020.
On Wall Street, the Dow Jones closed 92 points higher at 33,223 on Thursday, while the Nasdaq closed 436 points higher at 13,473.
Day Trading Guide: What do global signals indicate?
Expect a flat start in the Indian stock market today; Anuj Gupta, Vice President, IIFL Securities said, “US markets ended in green yesterday while SGX Nifty is also up today. Hence, we can expect Indian stock market to open flat today with negative bias. Fresh developments to traders.” Ukraine crisis in Russia and refrain from taking any stance based on speculation.”
advising traders to monitor new developments in the Russia-Ukraine crisis and trade with caution; Mohit Ralhan, Managing Partner, TIW Capital Group, said: “Equity markets have gone down in view of the impact of the Investor Russia Ukraine crisis. Russia has launched a military crackdown targeting Ukraine’s military infrastructure and has largely There could be an invasion. With Ukraine at risk of engaging the United States and Europe militarily as well. It is time for the markets to be extremely cautious and wait-and-see the best possible action for a clearer picture to emerge.”
day trading guide for stock market today
Today speaking on Day Trading Guide for Nifty; Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, “Constant formation of lower tops, repeated testing of critical lower supports has finally seen a sharp decline for Nifty. The current downtrend may continue for short term and Nifty bottoms out.” May fall to 15,900 levels before showing a slight bounce from low.”
Ruchit Jain, Lead Research at 5paisa.com said, “Technically, 16800 was the make or break level which was broken with a gap down opening and thus the trend turned negative. Further signals. Panic among market participants. India VIX crosses 32 mark, which was last seen in June 2020. Immediate support for NSE Nifty is now placed around 16,000, followed by 15,800, while 16,500 and 16,800 will now act as resistance on the pullback move. Traders should continue to avoid aggressive positions and better wait and see for a while.”
Speaking at key levels with respect to Nifty and Bank Nifty index; Sumeet Bagadiya, Executive Director, Choice Broking said, “Nifty is trading in a smaller range of 16,000 to 16,400, while its broader range for today is 15,800 to 16,600. Similarly, today’s short range for Bank Nifty is 34,700 to 36,000. Whereas it has a wide range today. 34,500 to 36,300.”
day trading stocks
Sharing today’s day trading stocks, stock market experts – Sumeet Bagdia of Choice Broking and Anuj Gupta of IIFL Securities gave 4 buy or sell recommendations for today.
Sumeet Bagadiya Day Trading Stock
1]Lupine: Sell on CMP, Target 680, stop loss 740
2]Container Corporation of India or CONCOR: Sell on CMP, Target from 540 530, stop loss 575
Today’s Intraday Stock of Anuj Gupta
3]State Bank of India or SBIN: Sell on CMP, Target 440, stop loss 505
4]Bharti Airtel: Buy on CMP, Target 710, stop loss 648.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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