Stock Market Trade Setup for November 13 : Things to know

On November 12, BSE Sensex was down 236.48 points to close at 43,357.19, while the Nifty50 lost 58.40 points to 12,690.80, formed a bearish candle on daily chart and market closed in the red after eight green sessions. Most action was seen in FMCG, Capital Goods, Realty, and Capital Discretionary stocks while profit-taking was visible in banks, public sector, and energy space. The top gainers on the Nifty included Hindustan Uniliver, Grasim, Shree cement, Hindalco, ITC and top losers are SBI, Kotak Bank, Coal India, Indusind Bank and NTPC.

According to pivot charts, Pivot point for market is 12,685.60. The key support levels for the Nifty is placed at 12,630.05, followed by 12,569.30. If the index moves up, the key resistance levels to watch out for are 12,746.35 and 12,801.90.

Day High - 12,741.15         Day Low - 12,624.85            Market Close - 12,690.80

Pivot Point = (12,690.80+12,741.15+12,624.85)/3 = 12,685.60

Support 1 = 2*12,685.60-12,741.15 = 12,630.05

Support 2 = 12,685.60- (12,741.15-12,624.85) = 12,569.30

Resistance 1 = 2*12,685.60-12,624.85 = 12,746.35

Resistance 2 = 12,685.60+ (12,741.15-12,624.85) = 12,801.90

NSE NIFTY CHART

BSE SENSEX CHART

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