Stock Market Trade Setup for November 05 : Things to know

On November 04, BSE Sensex was up 355.01 points to close at 40,616.14, while the Nifty 50 gained 95 points to 11,908.50 and formed a small bodied bullish candle on daily chart. Most action was seen in the energy, IT, consumer durable, healthcare, and capital goods space while realty, telecom, metal and power stocks saw profit-booking. The top gainers on the Nifty included Indusind Bank, Sun Pharma, Divis Lab, Reliance, Cipla while top losers were UPL, Axis Bank, HDFC, ICICI Bank and Hindalco.

According to pivot charts, Pivot point for market is 11,864.85. The key support levels for the Nifty is placed at 11,800.05, followed by 11,691.60. If the index moves up, the key resistance levels to watch out for are 11,973.30 and 12,038.10.

Day High - 11,929.65         Day Low - 11,756.40           Market Close - 11,908.50

Pivot Point = (11,908.50+11,929.65+11,756.40) = 11,864.85

Support 1 = 2*11,864.85-11,929.65 = 11,800.05

Support 2 = 11,864.85- (11,929.65-11,756.40) = 11,691.60

Resistance 1 = 2*11,864.85-11,756.40 = 11,973.30

Resistance 2 = 11,864.85+ (11,929.65-11,756.40) = 12,038.10

NSE NIFTY CHART

BSE SENSEX CHART

Stocks in News :

• SBI Q2 profit surges 52% to Rs 4,574 crore and NII increases to Rs 28,181 crore.
• Adani Enterprises posts Rs 436 crore quarterly profit in Q2.
• SRF Q2 profit up 57% at Rs 316 crore.
• Dynavision Standalone Q2 Net Sales at Rs 1.65 crore, up 0.86% YoY.
• ACE Edutrend Standalone Q2 Net Sales at Rs 0.05 crore, down 30.88% YoY.
• Ramco System Standalone Q2 Net Sales at Rs 82.84 crore, up 0.81% YoY.
• Kansai Nerolac Standalone Q2 Net Sales at Rs 1,288.09 crore, up 3.58% YoY.
• Dabur India Standalone Q2 Net Sales at Rs 1,900.90 crore, up 17.91% YoY.
• Mangalore Chem Standalone Q2 Net Sales at Rs 688.74 crore, down 5.75% YoY.
• JSW Energy Standalone Q2 Net Sales at Rs 672.03 crore, down 36.81% YoY.
• Cholamandalam Consolidated Q2 Net Sales at Rs 3,499.30 crore, up 4.76% YoY.
• AIA Engineering Standalone Q2 Net Sales at Rs 680.61 crore, up 9.05% YoY.
• Deepak Fert Consolidated Q2 Net Sales at Rs 1,404.19 crore, up 22.02% YoY.
• JSW Energy Consolidated Q2 Net Sales at Rs 1,938.57 crore, down 8.5% YoY.
• Ajanta Pharma Consolidated September 2020 Net Sales at Rs 715.91 crore, up 11.38% YoY.
• HPCL reported 7.34% fall in Q2 top line sales revenues at Rs 61,662 crore. Board has approved the proposal to buyback 10 crore shares or 6.56% equity stake at Rs 250 per share.