Stock Market Trade Setup for October 13 : Things to know

On October 12, BSE Sensex surged 84.31 points to 40,593.80 while the NSE Nifty50 jumped 16.75 points to 11,930.95 and formed a small-bodied bearish candle on the daily charts as closing was lower than opening levels. Stock market rallied for the 8th consecutive day.The announcements made by the finance minister on consumer spending and capital expenditure failed to rise market.

According to pivot charts, Pivot point for market is 11,940.07. The key support levels for the Nifty is placed at 11,858.13, followed by 11,785.27. If the index moves up, the key resistance levels to watch out for are 12,012.93 and 12,094.87.

Day High - 12,022.05      Day Low - 11,867.20        Market Close - 11,930.95

Pivot Point = (11930.95+12022.05+11867.20) = 11940.07

Support 1 = 2*11940.07-12022.05 = 11858.13

Support 2 = 11940.07- (12022.05-11867.20) = 11785.27

Resistance 1 = 2*11940.07-11867.20 = 12012.93

Resistance 2 = 11940.07+ (12022.05-11867.20) = 12094.87

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in the news :

• LIC cut stake in Simplex Realty to 16.78 percent from 18.87 percent earlier.
• Investor AF Holdings sold 4.81 lakh shares (2.6 percent stake) in Shakti Pumps India and cut stake to 6.3 percent.
• Ashish Kacholia bought 1.14 percent stake in ADF Foods in the September quarter.
• Shalby reported consolidated profit at Rs 24.5 crore and revenue fell to Rs 115.6 crore.
• Avenue Therapeutics Inc received a complete response letter from the FDA for new drug application IV Tramadol.
• Ashish Kacholia increased stake in DFM Foods to 2.84 percent in the September quarter from 2 percent in the June quarter. Vanaja Sundar Iyer acquired 1.87 percent stake in DFM Foods.

Karnataka Bank, Tata Steel Long Products, California Software and Rudra Global Infra Products will announce quarterly results on October 13.