Stock Market Trade Setup for October 29 : Things to know

On October 28, BSE Sensex was down 599.64 points to close at 39,922.46 while the NSE Nifty50 lost 159.80 points at 11,729.60 and formed a bearish candle on daily chart. The top losers on the Nifty were Indusind Bank, HDFC, ICICI Bank, Tech Mahindra and Adani Ports, while gainers were Bharti Airtel, UPL, M&M, Eicher Motors and Hero MotoCorp.

According to pivot charts, Pivot point for market is 11,781.28. The key support levels for the Nifty is placed at 11,633.17, followed by 11,536.73. If the index moves up, the key resistance levels to watch out for are 11,877.72 and 12,025.83.

Day High - 11,929.40         Day Low - 11,684.85           Market Close - 11,729.60

Pivot Point = (11,729.60+11,929.40+11,684.85) = 11,781.28

Support 1 = 2*11,781.28-11,929.40 = 11,633.17

Support 2 = 11,781.283- (11,929.40-11,684.85) = 11,536.73

Resistance 1 = 2*11,781.28-11,684.85 = 11,877.72

Resistance 2 = 11,781.28+ (11,929.40-11,684.85) = 12,025.83

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• PNB Housing Finance Q2 net down 15% at Rs 313 crore.
• Tata Coffee Q2 net profit up 5.6% to Rs 42 crore.
• ICICI securities reported a 63 percent surge in revenue to Rs 680 crore in the second quarter of 2020-21, from Rs 418 crore in the year-ago period.
• MOIL reported Rs 7 crore profit in Q2.
• Axis bank said its net interest income grew 20 percent YoY to Rs 7,326 crore in Q2FY21 from Rs 6,102 crore in Q2FY20. The net interest margin for Q2FY21 was 3.58 percent as against 3.51 percent for Q2FY20.
• Marico Q2 net rises 7.9% to Rs 273 crore, sales up 8.7% to Rs 1,989 crore.
• L&T Q2 profit jumps 118% to Rs 5,520 crore on E&A unit sale, order inflow declines 42%.
• Piramal Enterprises Q2 profit rises 14% to Rs 628.31 crore.
• Radico Khaitan Q2 profit slips 7% at Rs 75 crore.
• RBL Bank's net profit more than doubles to Rs 144.2 crore in Q2; NII grows 7.3% YoY.
• Titan reports Q2 standalone profit at Rs 199 crore, meets expectations on revenue.
• Dr Reddy's Labs Q2 profit falls 30% to Rs 762 crore, global generics business up 21%.
• Cipla gets into COVID-19 testing, with the launch of antibody test kits.