Stock Market Trade Setup for November 10 : Things to know

On November 09, BSE Sensex was up 704.37 points to close at 42,597.43, while the Nifty 50 gained 197.50 points to 12,461.00 and formed a bullish candle on daily chart. Most action was seen in telecom, banks, power, metal, finance, and consumer durable stocks while mild profit-taking was seen in the healthcare space. The top gainers on the Nifty included Divis Lab, Bharti Airtel, Indusind Bank, ICICI Bank, Axis Bank and top losers are Cipla, Adani ports, Maruti, ITC and Grasim.

According to pivot charts, Pivot point for market is 12,434.13. The key support levels for the Nifty is placed at 12,394.22, followed by 12,327.43. If the index moves up, the key resistance levels to watch out for are 12,500.92 and 12,540.83.

Day High - 12,474.05         Day Low - 12,367.35            Market Close - 12,461.00

Pivot Point = (12,461.00+12,474.05+12,367.35) = 12,434.13

Support 1 = 2*12,434.13-12,474.05 = 12,394.22

Support 2 = 12,434.13- (12,474.05-12,367.35) = 12,327.43

Resistance 1 = 2*12,434.13-12,367.35 = 12,500.92

Resistance 2 = 12,434.13+ (12,474.05-12,367.35) = 12,540.83

NSE NIFTY CHART

BSE SENSEX CHART

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