Stock Market Trade Setup for 30th September : Things to know

Today, BSE Sensex corrected 8.41 points to close at 37973.22 while NSE Nifty fell 5.15 points to 11222.40 formed a bearish candle on the daily charts.Most action was seen in consumer durables, metals, energy, and consumer discretionary stocks while profit taking was visible in telecom, utilities, public sector, and FMCG.

According to pivot charts, Pivot point for market is 11236.27. The key support levels for the Nifty are placed at 11167.13, followed by 11111.87. If the index moves up, the key resistance levels to watch out for are 11291.53 and 11360.67.

Day High - 11305.40      Day Low - 11181.0       Market Close - 11222.40

Pivot Point = (11222.40+11305.40+11181.0) = 11236.27

Support 1 = 2*11236.27-11305.40 = 11167.13

Support 2 = 11236.27- (11305.40-11181.0) = 11111.87

Resistance 1 = 2*11236.27-11181.0 = 11291.53

Resistance 2 = 11236.27+ (11305.40-11181.0) = 11360.67

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• KNR Constructions has transferred 100% stake of its subsidiary company, KNR Walayar Tollways to Cube Highways and Infrastructure II.
• Zen Technologies has complete the acquisition of 100% shareholding in Zen Medical Technologies.
• Nirlon has appointed Rajinder Pal Singh as the Chairman of the Board of Directors effective from 01st October 2020 in place of Moosa Raza.
• NMDC Limited Rs 21,000 cr three-million tonne capacity steel plant in Chhattisgarh, targeted this year, has been delayed due to COVID-19 and is now expected by July next year.
• Bandhan Bank is strengthening its leadership team as bank hired ICICI Bank veteran Kumar Ashish as head for emerging entrepreneurs business" vertical, which the bank created including micro-banking, micro home loan and micro enterprise loans.
• SBI Cards and American Express have entered a strategic partnership to offer a powerful mix of global benefits and exclusive privileges for discerning consumers in India.
• Britannia Industries has allotted commercial paper for an aggregate amount of Rs 200 crore with maturity date of 26th February 2021.
• New India Assurance Company announced that the Samir Kumar Banerjee, Independent Director and Sanjeev Kumar Chanana, Independent Director ceased with effect from close of office hours on 28 September, 2020.
• BLS International Services Limited (BLS), one of Indias leadingVisa and tech-enabled Government to Citizen (G2C) service provider, announces its most recent contract win from the Republic of Estonia. As per the terms of the contract, BLS is contracted to provide services with regards to issuance of digital ID to e-residents granted by the Estonian Police and Border Guard Board (PBGB) at five newly added locations.
• Steel Strips Wheels received export orders for 9,000 wheels for EU trailer market.
• Hindustan Zinc has allotted 35,200 unsecured, rated, non-convertible, redeemable debentures of face value of Rs 10 lakh each aggregating up to Rs 3520 crore on 29th September 2020.
• NLC India Limited has decommissioned 550 MW of 600 MW in Thermal Power Station as part of retirement of the plant.