Stock Market Trade setup for 17th September : Things to know

On 16th September, BSE Sensex gained 258.50 points to close at 39302.85 while NSE Nifty surged 82.75 points to 11604.55 formed a bullish candle on the daily charts taking positive global cues and action mostly seen in all sector stocks.

According to pivot charts, Pivot point for market is 11579.80. The key support levels for the Nifty are placed at 11541.50, followed by 11478.45. If the index moves up, the key resistance levels to watch out for are 11642.85 and 11681.15.

Pivot Point = (11604.55+11618.10+11516.75) = 11579.80

Support 1 = 2*11579.80-11618.10 = 11541.50

Support 2 = 11579.80- (11618.10-11516.75) = 11478.45

Resistance 1 = 2*11579.80-11516.75 = 11642.85

Resistance 2 = 11579.80 + (11618.10-11516.75) = 11681.15

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in the news :

• HCL Technologies and Google Cloud expanded partnership to deliver accelerated business intelligence platform.
• ICRA assigned a long-term rating of AA- with a stable outlook to Rs 395 crore bank facilities of Action Construction Equipment.
• SEBI imposed a penalty on three erstwhile promoters of Genus Prime Infra for certain non-compliances of regulations.
• Promoter entity GMR Enterprises created a pledge on 3.75 crore equity shares of GMR Infrastructure.
• CRISIL upgraded B&A Packaging India's long term credit rating to BBB/Stable from BBB-/Stable and short term rating to A3+ from A3.
• Dhanuka Agritech approved the proposal of buyback of shares worth up to Rs 100 crore and fixed 28th September.