Stock Market Trade Setup for November 09 : Things to know

On November 06, BSE Sensex was up 552.90 points to close at 41,893.06, while the Nifty 50 gained 143.25 points to 12,263.55 and formed a bullish candle on daily chart. Most sector indices ended in the green led by the Nifty Bank (up 1.85 percent), while Realty and energy indice rose 1.07 percent each. BSE Largecap indices added over 1.11 percent. The top gainers on the Nifty included Reliance, Bajaj Finserv, Indusind Bank, HDFC Bank, Kotak Bank  while top losers were Maruti, GAIL, Bharti Airtel, Asian Paint and Grasim.

According to pivot charts, Pivot point for market is 12,225.27. The key support levels for the Nifty is placed at 12,170.14, followed by 12,076.72. If the index moves up, the key resistance levels to watch out for are 12,318.68 and 12,373.82.

Day High - 12,280.40         Day Low - 12,131.85            Market Close - 12,263.55

Pivot Point = (12,263.55+12,280.40+12,131.85) = 12,225.27

Support 1 = 2*12,225.27-12,280.40 = 12,170.14

Support 2 = 12,225.27- (12,280.40-12,131.85) = 12,076.72

Resistance 1 = 2*12,225.27-12,131.85 = 12,318.68

Resistance 2 = 12,225.27+ (12,280.40-12,131.85) = 12,373.82

NSE NIFTY CHART

BSE SENSEX CHART

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