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News Topical, Digital Desk : The week from February 16th to 20th was positive for the stock market. However, after three days of strong gains, the market lost all its gains on Thursday and closed with gains on Friday. Market sentiment remains weak due to the possibility of a war between Iran and the United States. In this context, experts have suggested four key stocks for February 23rd, two of which are bearish and two are bullish trading ideas.
While the market is weak, stocks in select sectors remain bullish. These include metals, energy, and public sector banks. Therefore, it's wise to invest in both weak and strong stocks.
Bullish advice on ONGC and SBI
Market expert Abhishek Bhatt has recommended buying ONGC shares based on technical analysis . ONGC shares closed at ₹278.65, and the charts are consistently forming higher highs and lower lows.
Support: ₹270
Next support: ₹262
Resistance: ₹285
A close above 285 could lead to a rally to 295-300. The trend is currently clearly bullish.
Meanwhile, SBI shares have been in a long-term uptrend. The shares closed at ₹1,216.10. For new purchases, see the stock...
Support: ₹1,180
Strong support: ₹1,150
Resistance: ₹1,235
If SBI shares break above 1,235, a gap towards 1,270 could open up, supported by banking strength.
Bearish advice on Wipro and Asian Paints
Wipro shares closed at ₹209.86. Lower highs are being consistently formed on the charts. Therefore, these levels will be crucial for the stock...
Resistance: ₹218
Support: ₹205
If the stock slips below 205, pressure could build towards 195. The IT sector is currently looking weak.
Asian Paints – ₹2,427
Asian Paints shares are trading below the 200-DMA, a crucial level.
Resistance: ₹2,480
Support: ₹2,380
If the closing is below 2380, the decline may increase towards 2,300.
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