Stock Market Trade Setup for 29th September : Things to know

Today, BSE Sensex gained 592.97 points to close at 37981.63 while NSE Nifty surged 177.30 points to 11227.55 formed a bullish candle on the daily charts taking positive global cues.Stock Market got strong gains for the second consecutive session followed by reports that the government may come up with more favorable measures to support the economy.

According to pivot charts, Pivot point for market is 11188.92. The key support levels for the Nifty are placed at 11138.48, followed by 11049.42. If the index moves up, the key resistance levels to watch out for are 11277.98 and 11328.42.

Day High - 11239.35     Day Low - 11099.85      Market Close - 11227.55

Pivot Point = (11227.55+11239.35+11099.85) = 11188.92

Support 1 = 2*11188.92-11239.35 = 11138.48

Support 2 = 11188.92- (11239.35-11099.85) = 11049.42

Resistance 1 = 2*11188.92-11099.85 = 11277.98

Resistance 2 = 11188.92+ (11239.35-11099.85) = 11328.42

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• JSW Solar, a 100% subsidiary of JSW Energy, has received Letter of Awards for total Blended Wind capacity of 810 MW from Solar Energy Corporation.
• NTPC has invited bids for the procurement of biomass pellets for its various thermal plants.
• Gulf Oil Lubricants India has entered into a long-term strategic partnership with South Korea's S-Oil Corporation. As per the deal, the company will exclusively manufacture and market S-Oil's entire range of lubricants under the brand - S-Oil Seven - for the Indian market.
• State-owned Coal India Ltd (CIL) has invited global bids for setting up a coal to methanol plant.
• Bharat Petroleum Corp will continue to import gasoline for the next few months as its crude processing is hit due to lower demand for diesel that accounts for 40%-45% of its product slate.
• BPCL plans to create an employees trust to transfer 2% stake held in its investment trust and is likely to sell the balance 7.33% stake through block deals on the bourses.
• Tata Steel exercised it's right towards the conversion of 3492500 Warrants into 3492500 equity shares having a face value of Rs 10 each aggregating to Rs 224.22 cr in Tata Metaliks.
• Lupin has launched Atorvastatin Calcium tablets USP in the strengths of 10 mg, 20 mg, 40 mg, and 80 mg, having received an approval earlier from the United States Food and Drug Administration (USFDA).
• Shipping Corporation of India announced that Raj Kishore Tewari and Dr. Gautam Sinha will ceased to be Non-official Part-Time (Independent) Directors on the Board of the Shipping Corporation of India w.e.f 29 September 2020.
• India Grid Trust on behalf of Sterlite Investment Managers has completed acquisition of 74% paid-up capital of Jhajjar KT Transco (JKTPL) from Kalpataru Power Transmission (KPTL) and Techno Electric & Engineering Company (TEECL) at an enterprise value of Rs 310 crore.
• Infosys announces latest AI-based innovations at Roland-Garros.