Stock Market Trade setup for 16th September : Things to know

On 15th September, BSE Sensex gained 287.72 points to close at 39044.35 while NSE Nifty surged 81.75 points to 11521.80 formed a bullish candle on the daily charts taking positive global cues and action mostly seen in banking and pharma stocks.

According to pivot charts, Pivot point for market is 11500. The key support levels for the Nifty are placed at 11464.05, followed by 11406.30. If the index moves up, the key resistance levels to watch out for are 11557.75 and 11593.70.

Pivot Point = (11521.80+11535.95+11442.25) = 11500

Support 1 = 2*11500-11535.95 = 11464.05

Support 2 = 11500 - (11535.95-11442.25) = 11406.30

Resistance 1 = 2*11500-11442.25 = 11557.75

Resistance 2 = 11500 + (11535.95-11442.25) = 11593.70

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NSE NIFTY CHART

BSE SENSEX CHART

Stocks in the news :

• SpiceJet reported a loss of Rs 600.5 crore in Q1FY21 and revenue fell to Rs 521 crore.
• US-based Essential Utilities selected Infosys as a strategic partner to drive its digital transformation.
• REC to infuse Rs 150 crore as equity in a Joint Venture alongwith Power Finance Corporation, Power Grid Corporation and NTPC.
• Power Mech Projects reported a loss of Rs 32.69 crore in Q1FY21 and revenue fell to Rs 275 crore.
• Biotechnology Industry Research Assistance Council (BIRAC), set up by Department of Biotechnology (DBT), Government of India supported Aurobindo's COVID-19 vaccine development under the National Biopharma Mission.