Stock Market Trade Setup for 28th September : Things to know

On 25th September, BSE Sensex gained 835.06 points to close at 37388.66 while NSE Nifty surged 244.70 points to 11050.25 formed a bullish candle on the daily charts taking positive global cues and action mostly seen in all sectors stocks. Market lost 4 percent for the week and formedd bearish candle on the weekly chart.

According to pivot charts, Pivot point for market is 10,992.57. The key support levels for the Nifty are placed at 10,912.53, followed by 10,774.82. If the index moves up, the key resistance levels to watch out for are 11,130.28 and 11210.32.

Day High - 11072.60     Day Low - 10854.85       Market Close - 11050.25

Pivot Point = (11050.25+11072.60+10854.85) = 10,992.57

Support 1 = 2*10,992.57-11072.60 = 10,912.53

Support 2 = 10,992.57- (11072.60-10854.85) = 10,774.82

Resistance 1 = 2*10,992.57-10854.85 = 11,130.28

Resistance 2 = 10,992.57+ (11072.60-10854.85) = 11210.32

NSE NIFTY CHART

BSE SENSEX CHART

Stocks In News :

• NCL Industries JV deal with China's Qingdao Xinguangzheng Steel Structure Company terminated as current state of bilateral relations between India & China is not conducive for the JV.
• Thomas Cook board approved withdrawal of buyback of shares due to undergone substantial deterioration on account of the pandemic, global lockdowns.
• Central Bank of India bank closed its QIP by raising Rs 255 crore, set issue price at Rs 15.38 per share.
• Sequent Scientific company completed sale of investments held in Strides Pharma Science.
• LIC increased stake in Grasim Industries to 11.86% from 9.83% earlier.
• NALCO company signed MoU with Numaligarh refinery for long-term supply of CP coke.
• JSW Energy Subsidiary JSW Solar received Letter of Award for total blended wind capacity of 810 MW, from Solar Energy Corporation.