Stock Market Trade Setup for October 15 : Things to know

On October 14, BSE Sensex surged 169.23 points to 40,794.74 while the NSE Nifty50 jumped 36.55 points to 11,971.05. After a bad start, the benchmark indices managed to recover losses and turned positive after testing crucial support levels. Most action was seen in finance, banks, realty, and capital goods space while some profit-taking was visible in utilities, power, IT, and oil & gas space.

According to pivot charts, Pivot point for market is 11,930.13. The key support levels for the Nifty is placed at 11,863.06, followed by 11,755.08. If the index moves up, the key resistance levels to watch out for are 12,038.17 and 12,105.18.

Day High - 11,997.20      Day Low - 11,822.15      Market Close - 11,971.05

Pivot Point = (11971.05+11997.20+11822.15) = 11930.13

Support 1 = 2*11930.13-11997.20 = 11863.06

Support 2 = 11930.13- (11997.20-11822.15) = 11755.08

Resistance 1 = 2*11930.13-11822.15 = 12038.17

Resistance 2 = 11930.13+ (11997.20-11822.15) = 12105.18

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• Punjab National Bank has received upgrade in credit ratings from India Ratings and Research as follows -Basel III Tier 2 Bonds (Rs 9500 crore) - IND AAA/ Stable (Upgrade from IND AA+; off Rating Watch Evolving), Additional Tier I Bonds (Rs 6750 crore) - IND AA/ Stable (Upgrade from IND A; off Rating Watch Evolving), Senior Infrastructure Bonds (Rs 2000 crore) - IND AAA/ Stable (Upgrade from IND AA+).
• Isgec Heavy Engineering has successfully commissioned a combustion modification project for the 150 MW Boiler for Hindalco Industries at their Aditya Aluminium Unit in Sambhalpur, Odisha.
• Thomas Cook (India) announced that CRISIL has downgraded its ratings on the bank facilities and debt programmes of Thomas Cook India (TCIL) to CRISIL A+/CCR A+/Negative/CRISIL A1 from CRISIL AA-/CCR AA-/Negative/CRISIL A1+.
• Competition Commission of India (CCI) approves acquisition of shares in CG Power and Industrial Solutions Limited by Tube Investments of India Limited.
• Equitas Holdings announced that its subsidiary Equitas Small Finance Bank filed the Red Herring Prospectus (RHP) with the Registrar of Companies, Chennai, Tamil Nadu (ROC) in connection with the Offer.
• The Union cabinet has given in-principle approval for the demerger of the National Mineral Development Corporation (NMDC) and the Nagarnar Steel Plant in Chattisgarh.
• ABC India announced that CARE has reaffirmed the rating for long term credit facilities at CARE BBB-; Stable and for short term credit facilities at CARE A3.
• Infosys Q2 Net profit rises 21% to Rs 4,845 crore.