Day trading guide for stock market today: Nine stocks to buy or sell on Wednesday — 21st February
Stock market today: The Indian stock market ended higher for the fifth straight session on Tuesday, February 20. Throughout the day, the Nifty reached a high of 22,215.6 and a low of 22,045.85. The Sensex traded between 73,130.69 and 72,510.24, ultimately closing at 72,708.16, a 0.48% increase compared to the opening price, with a gain of 349.24 points.
The Bank Nifty ended at 46,535.5, reaching an intraday high of 47,136.75 and a low of 46,367.8. "Domestic equities gained for 6th consecutive day, trading in unchartered territory. After a subdued start, Nifty bounced back into positive territory and made yet another new high above 22200 zone.
The index closed with gains of 75 points at 22197 levels. Broader market, however, ended in the red. Sector-wise it was a mixed bag with buying seen in Banking, Financials, and Realty," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
On the outlook for the Nifty 50 index, Rupak De, Senior Technical Analyst, LKP Securities, said, "The Nifty continues its upward momentum following a consolidation breakout on the daily chart. The trend remains robust as it has sustained itself both above the psychological level of 22000 and the 21EMA on the daily timeframe. On the higher end, it may move towards 22400/22600 once the index decisively surpasses the 22200 mark.
Support on the lower end is identified at 22000." On the outlook for the Bank Nifty today, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said, "The Bank Nifty bulls maintained their dominance, closing above the 47000 level, signaling a strong buy mode. Immediate support is now established at 46700, marked by fresh put writing. The index is anticipated to reach the short-term target of 48000,
. Read more on livemint.com
