Posted on November 11, 2020 under Daily Stock Market Outlook by Team Lakshmishree

Bajaj Finance, IndusInd Bank & Pfizer in the limelight

A Glance To Today's Market

The market rose for the seventh consecutive day in India on November 11, 2020, which took S&P BSE Sensex above 43,000 where the Nifty50 reclaimed 12,600 levels.

The S&P BSE Sensex targets a fresh and highest record of 43,316 while the Nifty50 made a record of 12,643 through intraday trading.

Let's cope up with the final tally on D-street on November 10, where S&P BSE Sensex rose up with 680 points - 43,277 points where the Nifty50 rose up with 170 points - 12,631.

Stocks like Bajaj Finance rose nearly 9.5%, Pfizer, over 2% to beat the highest records of Rs.5875, and IndusInd Bank was up nearly 8% Tuesday.

According to the experts and report analysis on what an investor tends to move on November 12, in trading is why…..

Book Profit: Bajaj finance

Although this counter got registered on a breakout with an issue of closing above 3749 levels, it got cozy clocked with a gain of around 30% in the last seven sessions of trade which shall enlighten the feeling of nervousness sooner the correction kicks out anytime due to profit booking.
Besides, the logical target further seems to be closer around 4295 levels but the technical stop loss point is below the horizon of 3882 impacting large risk rewards ratios for traders in booking profits.
For this reason, at this point, it looks wise on the part of traders to book profits and look for a correction in the zone of 4050 - 3950.