Stock Market Trade Setup for November 04 : Things to know

On November 03, BSE Sensex was up 503.55 points to close at 40,261.13, while the Nifty 50 gained 144.35 points to 11,813.50 and formed a bullish candle on daily chart. Most buying action was seen in banking, auto and metal sectors while bank index ended higher. The top gainers on the Nifty included ICICI Bank, Hindalco, SBI, Power Grid, HDFC while top losers were UPL, NTPC, Reliance, Nestle Industry and Hindustan Uniliver.

According to pivot charts, Pivot point for market is 11,791.0. The key support levels for the Nifty is placed at 11,745.8, followed by 11,678.1. If the index moves up, the key resistance levels to watch out for are 11,858.7 and 11,903.9.

Day High - 11,836.20         Day Low - 11,723.30           Market Close - 11,813.50

Pivot Point = (11,813.50+11,836.20+11,723.30) = 11,791.0

Support 1 = 2*11,791.0-11,836.20 = 11,745.8

Support 2 = 11,791.0- (11,836.20-11,723.30) = 11,678.1

Resistance 1 = 2*11,791.0-11,723.30 = 11,858.7

Resistance 2 = 11,791.0+ (11,836.20-11,723.30) = 11,903.9

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• Dabur India Q2 net rises 20% to Rs 482.86 crore and revenue from operations stood at Rs 2,516.04 crore.
• Adani Ports & SEZ Q2 consolidated profit up 32% to Rs 1,394 crore.
• IIFL Finance profit jumps over two-folds to Rs 212 crore in Q2.
• JSW Energy net profit remains almost flat at Rs 352 crore in Q2.
• Godrej Properties Q2 consolidated net profit falls 78% to Rs 7.10 crore.
• Sun Pharma Q2 earnings beat the Street as profit surges 70% to Rs 1,813 crore.
• Deepak Fertilizers sees over 3-fold jump in Q2 net profit to Rs 80.55 crore.