Market continued the record journey on the third consecutive day with eight straight session gains on November 11 supported by the metal, pharma and auto names. At close, the Sensex was up 316 points at 43593, and the Nifty was up 118 points at 12749. Indices witnessed a significant bout of volatility today but ended very much in the green buoyed by key pivotal across sectors. Metals & select Pharma names saw buying interest while investors bought into insurers in the broader market.
The markets are bullish with upbeat momentum. Traders can consider booking profits at regular intervals and updating their stop loss levels too. We have a strong support at 12550-12500. A buy on dips strategy is advised whenever there are intraday drops or corrective phases. A target of 12850-13000 over a period of time is likely.
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Resistance: 12850, 12950, 13000
Support: 12550, 12450, 12350
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