Stock Market Trade Setup for October 20 : Things to know

On October 19, BSE Sensex was up 448.62 points to close at 40,431.60 while the NSE Nifty50 gained 110.60 points at 11,873.05 and formed bullish candle on the daily charts. Most action was seen in banks, finance, public sector and oil & gas space while mild profit-taking was seen in auto, telecom, healthcare, and IT stocks. 

According to pivot charts, Pivot point for market is 11,863.90. The key support levels for the Nifty is placed at 11,829.55, followed by 11,786.05. If the index moves up, the key resistance levels to watch out for are 11,907.40 and 11,941.75.

Day High - 11,898.25         Day Low - 11,820.40          Market Close - 11,873.05

Pivot Point = (11,873.05+11,898.25+11,820.40) = 11,863.90

Support 1 = 2*11,863.90-11,898.25 = 11,829.55

Support 2 = 11,863.90- (11,898.25-11,820.40) = 11,786.05

Resistance 1 = 2*11,863.90-11,820.40 = 11,907.40

Resistance 2 = 11,863.90+ (11,898.25-11,820.40) = 11,941.75

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• Britannia Q2 profit rises 23% to Rs 495 cr and revenue up 12% to Rs 3,419 cr.
• HDFC Lifes standalone profit after tax rose 5.6% in the quarter ending September (Q2FY21) to Rs 326 cr, compared to Rs 308.69 cr in the same period last year. Net premium income of the insurer in the second quarter rose 35% to Rs 10,045 cr, compared to Rs 7,453.68 cr in the year ago period.
• ACC Ltd has reported a 19.8% year-on-year (YoY) growth in consolidated profit after tax at Rs 364 cr during the July-September quarter, as against Rs 303 cr during the same period last year.
• Life Insurance Corporation of India (LIC) increased stake in private sector lender Kotak Mahindra Bank during the September quarter. LIC held 6.29 cr shares, or 3.18%, stake in Kotak Mahindra Bank as of September 30 against 4.85 cr or 2.45% stake earlier.
• CSB Bank net profit at Rs 68.9 cr at the end of the September quarter on the back of strong asset growth.
• Hatsun Agro Product on board has approved a bonus share issue in the ratio of 1:3.
• Cosmo Films board on October 19 consider a share buyback on October 26.