Day trading guide for stock market today: Eight stocks to buy or sell on Thursday — 22nd February

livemint.com:

Stock market today: On account of weak global cues after Tuesday's sell-off on Wall Street, the Indian stock market ended lower on Wednesday. The Nifty 50 index lost 141 points and closed at the 22,055 level, the BSE Sensex shed 434 points and ended at the 72,623 mark whereas the Bank Nifty index finished 74 points lower at the 47,019 level.

In the broad market, the small-cap and the mid-cap indices fell more than the Nifty 50 index even as the advance-decline ratio fell sharply to 0.52:1. "The winning streak for the benchmark index finally came to a halt after six consecutive sessions.

Also, the development of the last three sessions got eloped with one day fall, though the 22K mark showed its significance in cushioning the index by the fag end of the session," said Osho Krishan, Sr. Analyst - Technical & Derivative Research at Angel One.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 22 On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The bullish chart pattern like higher tops and bottoms continued as per daily timeframe chart and Wednesday's swing high of 22,249 could now be considered as a new higher top of the sequence. Hence, short-term weakness could be expected and the next lower supports to be watched at 21,850 to 21,750 levels." Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "Bank Nifty also resisted near the 47,400 to 47,500 zone, and with some profit booking seen in some of the frontline banking stocks, we can expect a small breather or consolidation in the coming days.