Stock Market Trade Setup for 25th September : Things to know

Today, BSE Sensex corrected 1114.82 points to close at 36553.60 while NSE Nifty fell 326.30 points to 10805.55 formed a bearish candle on the daily charts. Both the Sensex and Nifty lost more than 6 percent each. Stock markets fell for the 6th consecutive day in a row due to weak global cues. Most selling action was visible in IT, auto, metals, banks and public sector stocks.

According to pivot charts, Pivot point for market is 10870.35. The key support levels for the Nifty are placed at 10725.40, followed by 10645.25. If the index moves up, the key resistance levels to watch out for are 10950.50 and 11095.45.

Day High - 11015.30     Day Low - 10790.20       Market Close - 10805.55

Pivot Point = (10805.55+11015.30+10790.20) = 10870.35

Support 1 = 2*10870.35-11015.30 = 10725.40

Support 2 = 10870.35- (11015.30-10790.20) = 10645.25

Resistance 1 = 2*10870.35-10790.20 = 10950.50

Resistance 2 = 10870.35+ (11015.30-10790.20) = 11095.45

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• RITES bags Rs 206 cr contract for road over bridges in Andhra Pradesh.
• Reliance Retail Ltd is in talks with a South Indibased consumer durable retail chain, Electronics Mart India Ltd for a possible acquisition.
• Indian Oil Corp mulls deferring expansion of projects to sync them with demand.
• The Board of Subex at its meeting held on 24 September 2020 has taken note of the order of the National Company Law Tribunal, Bengaluru Bench passed on 23 September 2020 approving the scheme of reduction of equity share capital of the company from Rs 562 crore to Rs 281 crore by reducing face value of the equity shares from Rs 10 each to Rs 5 each.
• DLF announced the appointment of R P Punjani as Company Secretary of the company with effect from 1 October 2020. DLF announced that Mohit Gujral has retired from the office of CEO and Whole Time Director of the company with effect from 31 October 2020.
• Panacea Biotec announced the successful completion of its Phase 1/11 study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose live-attenuated tetravalent vaccine.
• Intellect Design Arena allots 20,100 equity shares under ESOP.
• Ramco Systems has signed up an agreement with United Arab Shipping Company, belonging to the Hapag Lloyd Group -worlds fifth largest container carrier in terms of vessel capacity, for implementing its award-winning Global Payroll software as a Managed Services including Core HR, Time & Attendance, Leave, Travel and Employee Self Services across 17 countries including Middle East, Africa and India.
• Zydus Cadila received the USFDA approval for marketing its Palbociclib Capsules in the US.
• Monnet Ispat & Energy has been renamed as JSW Ispat Special Product with effect from 23 September 2020.
• UCO Bank announced to increase the authorised capital of the Bank from Rs. 10000 crore to Rs. 15000 crore.
• Ramco Systems has allotted 40,202 equity shares under ESOPs on 24 September 2020.
• Angel Broking Limited IPO subscribed 3.94 times and Retail part subscribed 4.31 times on last day.