Stock Market Trade Setup for November 03 : Things to know

On November 02, BSE Sensex was up 143.51 points to close at 39,757.58, while the Nifty 50 gained 26.75 points to 11,669.15. Most Selling action was seen in energy, infra and IT sectors, while bank index ended higher The top gainers on the Nifty included Indusind Bank, ICICI Bank, Axis Bank, HDFC and Bharti Airtel, while top losers were Reliance Industries, Divis Labs, Eicher Motors, HCL Tech and BPCL.

According to pivot charts, Pivot point for market is 11,650.73. The key support levels for the Nifty is placed at 11,575.82, followed by 11,482.48. If the index moves up, the key resistance levels to watch out for are 11,744.07 and 11,818.98.

Day High - 11,725.65         Day Low - 11,557.40           Market Close - 11,669.15

Pivot Point = (11,669.15+11,725.65+11,557.40) = 11,650.73

Support 1 = 2*11,650.73-11,725.65 = 11,575.82

Support 2 = 11,650.73- (11,725.65-11,557.40) = 11,482.48

Resistance 1 = 2*11,650.73-11,557.40 = 11,744.07

Resistance 2 = 11,650.73+ (11,725.65-11,557.40) = 11,818.98

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• Relaxo Footwears Q2 profit up 6.5% at Rs 75.10 crore.
• Welspun Corp Standalone September 2020 Net Sales at Rs 1,054.70 crore, up 26.89% YoY.
• Gateway Distri Standalone September 2020 Net Sales at Rs 75.27 crore, down 10.02% YoY.
• Axis Bank Consolidated September 2020 Net Interest Income (NII) at Rs 7,436.38 crore, up 19.34% YoY.
• BPCL Standalone September 2020 Net Sales at Rs 50,146.36 crore, down 22.06% YoY.
• Thyrocare Techn Standalone September 2020 Net Sales at Rs 148.54 crore, up 37.68% YoY.
• Bajaj Healthcar Standalone September 2020 Net Sales at Rs 206.63 crore, up 105.51% YoY.
• PNB sequentially doubles Q2 profit to Rs 620.8 crore, NII grows 24%.
• Cadila Healthcare Q2 net profit jumps over four-fold to Rs 473.4 crore.
• Wockhardt Q2 net profit at Rs 3.29 crore.
• Zee Entertainment Enterprises posts Rs 93.41 crore net profit in Q2.
• Bank of Baroda Standalone September 2020 Net Interest Income (NII) at Rs 7,507.53 crore, up 6.82% YoY.
• PNB Housing Fin Standalone September 2020 Net Sales at Rs 2,012.68 crore, down 7.98% YoY.