Yes, poinsettias (Euphorbia pulcherrima) need water.
Specifically, poinsettias like humid air and moist (not waterlogged) soil. In fact, they need soil to be fertile, well-aerated and well-drained. They do not like soil to dry out. The soil always must be moist to the touch.
Generally, plants need to be watered every 7-10 days. In between waterings, a simple soil test involves sticking a sharp object such as a pencil, ruler or soil probe down into the soil. If the object comes clean, the soil is too dry. If the object becomes muddy, then the soil is waterlogged. If the object has soil particles clinging to it like little freckles or speckles, then the soil is adequately moist.
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The best way to determine if a poinsettia needs water is to feel the top of the potting soil, which should feel moist and cool to the touch. If it feels dry, it's time to water. Additionally, if the pot feels light as a feather when you lift it, the soil is too dry. The potting soil should be kept slightly moist but never soggy or dripping wet. To be safe, check the plant daily since potting soil can dry quickly in warm, indoor air. Soon, you'll know how much water the plant needs without checking quite so frequently.
Read more at Gardening Know How: Watering Poinsettia Plants: How Do You Water A Poinsettia Plant
No, poinsettias (Euphorbia pulcherrima) do not need direct sunlight.
Specifically, poinsettias need high intensity sunlight. But they tolerate that intensity from a position of light shade. They also tolerate it in a context of set temperatures (60-80 degrees F/15.56-26.67 degrees C, moist (not waterlogged) soil, and humid air.