Stock Market Trade Setup for November 24 : Things to know

On November 23, BSE Sensex rose 194.90 points to 44,077.15, and the Nifty50 gained 67.40 points at 12,926.45. Most action was seen in IT, oil & gas, energy, healthcare while some selling pressure was seen in telecom, banks and consumer durables. ONGC, Indusind Bank, GAIL, Dr Reddy and Infosys were among major gainers on the Nifty, while losers included HDFC, Axis Bank, ICICI Bank, SBI Life and Titan.

According to pivot charts, Pivot point for market is 12,907.00. The key support levels for the Nifty is placed at 12,845.15, followed by 12,763.85. If the index moves up, the key resistance levels to watch out for are 12,988.30 and 13,050.15.

Day High - 12,968.85         Day Low - 12,825.70            Market Close - 12,926.45

Pivot Point = (12,926.45+12,968.85+12,825.70)/3 = 12,907.00

Support 1 = 2*12,907.00-12,968.85 = 12,845.15

Support 2 = 12,907.00- (12,968.85-12,825.70) = 12,763.85

Resistance 1 = 2*12,907.00-12,825.70 = 12,988.30

Resistance 2 = 12,907.00+ (12,968.85-12,825.70) = 13,050.15

Nifty Chart

Sensex Chart

Stocks in News :

• Max Estate to invest Rs 400 crore in new commercial project in Noida.
• Tata Group, Singapore Airlines infuse Rs 585 crore in Vistara.
• Strides Pharma Science gets USFDA nod for Prednisone tablets.
• Coal India board approves hike of non-coking coal price by Rs 10 per tonne from next month.
• BEML receives variation order from DMRC valued at Rs 501 crore.
• Biocon to acquire 26% stake in Hinduja Renewables Two.
• Ircon awarded orders of Rs 723 crore by NCRTC.