Day trading guide for Friday: 4 stocks to buy or sell today — 25th February

Day trading guide for Friday: On account of news flows of Russia invading Ukraine, Indian stock market witnessed bloodbath on Thursday trade session. The secondary market of India remained under pressure throughout the day and the selling accelerated in the last hour to end the day with a cut of almost 5 per cent at key benchmark indices. NSE Nifty logged its second worst day since March 2020 as the 50 stocks index crashed 815 points and closed at 16,247 whereas BSE Sensex tumbled 2,702 points and closed at 54,529. Bank Nifty index ended 2163 points lower at 35,228 levels. The India VIX surpassed the 32 mark, which was last seen in June 2020.

At Wall Street on Thursday, Dow Jones added 92 points and closed at 33,223 levels whereas Nasdaq ended 436 points up at 13,473 levels.

Day trading guide: What global cues signal?

Expecting flat opening at Indian stock market today; Anuj Gupta, Vice President at IIFL Securities said, "US markets ended in green territory yesterday whereas SGX Nifty is also up today. So, we can expect flat opening with negative bias at Indian stock market today. Traders should continue to keep following fresh developments in Russia Ukraine crisis and avoid taking any position based on speculation."

Advising traders to keep an eye on new developments in Russia Ukraine crisis and trade cautiously; Mohit Ralhan, Managing Partner at TIW Capital Group said, "The equity market has gone down as investors weigh the impact of Russia Ukraine crisis. Russia has launched a military action targeting the military infrastructure of Ukraine and it may lead to a larger scale invasion of Ukraine with the risk of USA and Europe getting embroiled militarily as well. It’s time to be extremely cautious in the markets and the best possible action seems to be wait & watch for a clearer picture to emerge.”

Day trading guide for stock market today

Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The formation of consistent lower tops, repeated testing of important lower support has eventually witnessed sharp downside breakout for the Nifty. The present decline could be continued for short term and the Nifty could slide down to 15,900 levels before showing minor upside bounce from the lows."

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. The follow up selling towards the last hour indicates signs of panic and nervousness amongst market participants. The India VIX surpassed the 32 mark, which was last seen in June 2020. The immediate supports for NSE Nifty are now placed around 16,000 followed by 15,800, while 16,500 and 16,800 would now become resistances on pullback moves. Traders should continue to avoid aggressive positions and better keep a wait and watch approach for a while."

Speaking on important levels in regard to Nifty and Bank Nifty index; Sumeet Bagadia, Executive Director at Choice Broking said, "Nifty is trading in small range of 16,000 to 16,400 whereas its broader range for today is 15,800 to 16,600. Likewise, small range for Bank Nifty today is 34,700 to 36,000 whereas its broader range today is 34,500 to 36,300."

Day trading stocks

Sharing day trading stocks for today, stock market experts — Sumeet Bagadia of Choice Broking and Anuj Gupta of IIFL Securities — recommended 4 stocks to buy or sell today.

Sumeet Bagadia's day trading stocks

1] Lupin: Sell at CMP, target ₹680, stop loss ₹740

2] Container Corporation of India or CONCOR: Sell at CMP, target ₹540 to ₹530, stop loss ₹575

Anuj Gupta's intraday stocks for today

3] State Bank of India or SBIN: Sell at CMP, target ₹440, stop loss ₹505

4] Bharti Airtel: Buy at CMP, target ₹710, stop loss ₹648.

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