Stock Market Trade Setup for 01st October : Things to know

Today, BSE Sensex gained 94.71 points to close at 38067.93 while NSE Nifty surged 25.15 points to 11247.55 formed a bullish candle on the daily chart. Stock Market witnessed selling at higher levels as caution over global cues amid outcome of US presidential elections. Increasing covid 19 cases also worried investors.

According to pivot charts, Pivot point for market is 11242.50. The key support levels for the Nifty are placed at 11189.60, followed by 11131.65. If the index moves up, the key resistance levels to watch out for are 11300.45 and 11353.35.

Day High - 11295.40      Day Low - 11184.55      Market Close - 11247.55

Pivot Point = (11222.40+11295.40+11184.55) = 11242.50

Support 1 = 2*11242.50-11295.40 = 11189.60

Support 2 = 11242.50- (11295.40-11184.55) = 11131.65

Resistance 1 = 2*11242.50-11184.55 = 11300.45

Resistance 2 = 11242.50+ (11295.40-11184.55) = 11353.35

NSE NIFTY CHART

BSE SENSEX CHART

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• Ircon International approves final dividend of Rs 2.06 per equity share of face value Rs 2 each.
• NHPC announced that Sewa-11 Power Station (120 MW) in UT of Jammu & Kashmir has been under complete shutdown w.e.f. 25th September 2020 to 31th March 2021 for Damage of HRT.
• China is preparing to launch an antitrust probe into Alphabet Inc's Google.
• TTK Prestige announced the appointment of R Saranyan as Chief Financial Officer of the company with effect from 01st October 2020 and replace V. Sundaresan as CFO who retires on 30th September 2020.
• NCLT has sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance with and into HDFC ERGO.
• Bharti Airtel announced the launch of Airtel Secure - a comprehensive suite of advanced cyber security solutions for business customers.
• Government said on Wednesday it has extended the deadline for submitting initial bids to buy state-owned Bharat Petroleum Corp Ltd to November 16th.