On October 26, BSE Sensex was down 540.0 points to close at 40,145.50 while the NSE Nifty50 lost 162.60 points at 11,767.75 and formed a bearish candle on daily chart. Nifty Metal and Auto corrected the most, down 3.5 percent and 3.2 percent respectively, while Bank, IT and Pharma were down 1-1.65 percent. Indices corrected more than 1 percent amid weak global cues, rising coronavirus infections in the United States and Europe, and delay in US stimulus package.
According to pivot charts, Pivot point for market is 11,807.43. The key support levels for the Nifty is placed at 11,672.07, followed by 11,576.33. If the index moves up, the key resistance levels to watch out for are 11,903.17 and 12,038.53.
Day High - 11,942.85 Day Low - 11,711.70 Market Close - 11,767.75
Pivot Point = (11,767.75+11,942.85+11,711.70) = 11,807.43
Support 1 = 2*11,807.43-11,942.85 = 11,672.07
Support 2 = 11,807.43- (11,942.85-11,711.70) = 11,576.33
Resistance 1 = 2*11,807.43-11,711.70 = 11,903.17
Resistance 2 = 11,807.43+ (11,942.85-11,711.70) = 12,038.53
Stocks in news
- Finolex Industries reported a higher profit at Rs 122.8 crore and revenue increased to Rs 585.8 crore.
- M&M Financial reported a higher profit at Rs 303.5 crore and AUM increased to Rs 81,682 crore.
- Torrent Pharma reported profit at Rs 310 crore and revenue rose to Rs 2,017 crore.
- NTPC will consider share buyback on November 2.
- The government has appointed merchant bankers for a period of three years for disinvestment of stake in IRCTC through an offer for sale.
- Angel Broking reported profit at Rs 74.5 crore and revenue jumped to Rs 309.8 crore.
Bharti Airtel, Tata Motors, Amara Raja Batteries, Castrol India, Ceat, ICICI Prudential Life Insurance Company, JM Financial, Man Industries, Mangalam Organics, Nippon Life India Asset Management, Sanofi India, SKF India, Suven Life Sciences and VST Industries are among 37 companies to announce quarterly results on October 27.
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