Stock Market Trade setup for 21st September : Things to know

On 18th September, BSE Sensex corrected 134.03 points to close at 38845.82 while NSE Nifty fell 11.15 points to 11504.95 formed a bearish candle on the daily charts and most selling action was seen in banking sector and most buying action was seen in healthcare sector.The Bank Nifty corrected 289.35 points to 22,031.

According to pivot charts, Pivot point for market is 11511.72. The key support levels for the Nifty are placed at 11439.33, followed by 11373.72. If the index moves up, the key resistance levels to watch out for are 11577.33 and 11649.72.

Pivot Point = (11504.95+11584.10+11446.10) = 11511.72

Support 1 = 2*11511.72-11584.10 = 11449.33

Support 2 = 11511.72- (11584.10-11446.10) = 11373.72

Resistance 1 = 2*11511.72-11446.10 = 11577.33

Resistance 2 = 11511.72 + (11584.10-11446.10) = 11649.72

BSE SENSEX CHART

NSE NIFTY CHART

Stocks in News :

• Promoter entities HAL Offshore Ltd & PACs acquired 60,000 shares in Seamac increasing stake to 69.80%.
• RITES announced buyback of shares up to Rs 257 crore at a price of Rs 265 per share and has fixed September 30 as record date.
• Chemcon Speciality Chemicals Limited 318-crore IPO will open on September 21 and close on September 23. IPO price is fixed at Rs 338-340 per share.
• Computer Age Management Services Limited 2,244-crore IPO will open on September 21 and close on September 23. IPO price is fixed at Rs 1,229-1,230 per share.
• Rushil Decor will open its rights issue of Rs 24.89 crore on September 21.
• Chambal Fertilisers & Chemicals ltd promoter entity Zuari Global created a pledge on 2.5 lakh shares.