Day trading guide for Tuesday: 6 stocks to buy or sell today — 22 February

Day trading guide for stock market today: The short term trend of Nifty continues to be choppy with range bound action, say experts. (MINT)

Day trading guide for Tuesday: The weakness with choppy movement continued in the Indian stock market for the fourth consecutive sessions on Monday, as investors watched for developments in Ukraine after Russia rescinded earlier pledges to pull tens of thousands of its troops away from Ukraine’s northern border. Nifty 50 plunged 69 points and closed at 17,206 whereas BSE Sensex shed 149 points and ended at 57,683 levels. However, Bank Nifty index ended 86 points higher at 37,685 levels. According to stock market experts, current market pattern displays high volatility in the market.

Day trading guide: What global cues signal?

Speaking on the developments in Russia Ukraine crisis; Anuj Gupta, Vice President at IIFL Securities said, "After Russian President Vladimir Putin's recognition of two breakaway regions of eastern Ukraine, investors are suggested to keep an eye on latest developments in Russia Ukraine conflict." He said that Russia Ukraine latest news suggest negative trend for the global equity market and Indian markets may continue to trade choppy with negative bias.

Anuj Gupta of IIFL Securities went on to add, “SGX Nifty is also down today and I would advised intraday traders to keep in mind that shorter range of SGX Nifty today will be 16,800 to 17,380 whereas broader range will be 16,500 to 17,700. Breakage of shorter range would mean further dip in Indian indices."

Vineet Bagri, Managing Partner at TrustPlutus Wealth said, "The markets are nervous about the Russia-Ukraine situation. On the positive side, a USA-Iran deal could cause oil to cool off, and provide much needed respite to inflation."

Day trading guide for stock market today

Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be choppy with range bound action. Still there is no strong evidence of Nifty forming bottom reversals around the support of 17,100 levels. Further weakness from here could open a next downside target of 16,800 in the near term. Immediate resistance for NSE Nifty is placed at 17,350 levels."

Asking intraday traders to keep the short and broad range of Nifty and Bank Nifty in mind; Sumeet Bagadia, Executive Director at Choice Broking said, "For high risk traders shorter range of NSE Nifty is 17,100 to 17,350 whereas shorter range of Nifty Bank index is 37,300 to 38,000. Likewise, broader range of NSE Nifty is 17,000 to 17,500 whereas broader range of Nifty Bank index would be 37,000 to 38,300."

Day trading stocks

Sharing day trading stocks to buy today; stock market 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's day trading stocks to buy today

1] Infosys or INFY: Buy at CMP, target ₹1800, stop loss ₹1690

2] Glenmark: Buy at CMP, target ₹470, stop loss ₹440

Anuj Gupta's day trading stocks for today

3] Axis Bank: Momentum buy at CMP, target ₹830, stop loss ₹735

4] Tata Motors: Buy at CMP, target ₹530, stop loss ₹460

Avinash Gorakshkar's day trading stocks for Tuesday

5] HDFC Bank: Buy at CMP, target ₹1580, stop loss ₹1495

6] Tata Consumer: Buy at CMP, target ₹755, stop loss ₹695.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.