Valentine's Day Special: Is Stock Market Open On February 14? If Yes, Which Stocks To Buy, Find Out!

February 14 is popularly known as the day of love since everyone across the world celebrates it as Valentine's Day. Although, the history behind Valentine's Day is tragic, on this day people like to express their affection, love and care through gifts or cards. How about gifting stocks on this special day? The stock market is open for trading on this special day, as February 14 is neither a national nor public holiday.

Hence, the Indian market will be open for trading and investors can buy sell or hold their positions in market-related instruments.

So which stocks to buy on February 14?

Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has recommended buying three stocks on February 14. They are:

- BUY NFL cmp 101.35 Stop Loss 98 Target 108

- BUY HCC cmp 42.60 Stop Loss 41.50 Target 45

- BUY HAVELLS cmp 1362.65 Stop Loss 1335 Target 1425

February 14 Trading Guide!

Siddhartha Khemka, Head - of Retail Research, Motilal Oswal Financial Services said, "Going ahead Nifty is expected to remain in the broader range given the lack of positive triggers globally and mixed set of domestic Q3 earnings which too is unable to provide any support. All eyes will be on US inflation data that will be released late today, as it will hold key importance from the US Fed interest rate cut point of view."

While Prashanth Tapse, Senior VP (Research), Mehta Equities said, volatility is likely to persist as most of the hurdles such as geo-political worries coupled with stretched valuations of local stocks and FII selling will continue to keep investors at bay.

To investors, Ajit Mishra, SVP - of Technical Research, Religare Broking said, the recent price action in the index shows indecisiveness among the participants thus traders should continue with a stock-specific approach and wait for clarity. Besides, we suggest utilizing further rebounds to reduce longs, especially in the PSUs and other overbought sectors/themes.

Koothupalakkal expects Nifty to find support at 21,600 and to resist around 21,900 on February 14. Bank Nifty is factored to find support and resistance at 45,000 and 46,000 respectively.

Giving a technical view, Rupak De, Senior Technical Analyst, at LKP Securities said, the Nifty exhibited volatility throughout the day, mostly fluctuating within the range of 21650 and 21750. The prevailing sentiment is expected to persist in a sideways to bearish direction as long as the index stays below 21850. On the downside, a short-term support level is identified at 21500. A significant decline below 21500 could potentially initiate a correction towards 21270/21000. Conversely, on the upside, a decisive breakthrough above 21850 might trigger a rally towards 22200.

Moreover, on Bank Nifty, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said, "The bulls made a strong comeback, defending the critical support level of 44800, which now serves as a cushion for further upside. The index remains in buy mode as long as the mentioned support holds, and any dips should be utilized to add long positions. The immediate resistance on the upside is situated at 46000, where the highest open interest is built up on the call side, indicating a potential target for the bullish momentum."

Market's Previous Session:

On Tuesday, Sensex closed at 71,555.19, up by 482.70 points or 0.68%. While Nifty 50 ended at 21,743.25, higher by 127.20 points or 0.59%.

On the market performance, Vinod Nair, Head of Research, at Geojit Financial Services said, the domestic market largely recovered from yesterday's losses, driven by gains in the banking sector. Improved sentiment stemmed from a decline in domestic inflation, which is expected to boost rural demand. Despite this, broader markets continued to underperform compared to frontline indices due to high valuations. However, investors remained cautious ahead of U.S. inflation data, anticipating a moderation, pivotal for the Fed's interest rate trajectory.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author or Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.