After The Bell: Profit booking at higher levels; here’s what investors should do on Wednesday

Indian market closed in the green for the fifth consecutive day in a row on Tuesday following a positive trend seen in other Asian markets as well. Bulls managed to push both Sensex and Nifty50 to record highs but saw some profit booking at higher levels.

The S&P BSE Sensex hit a fresh record high above 44,000 for the first time at 44,161 while the Nifty50 reclaimed 11,900 levels but failed to close above the same.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 314 points to 43,952 while the Nifty50 closed with gains of 93 points to 12,874.

Sectorally, the action was seen in industrials, metals, capital goods, banks, and realty stocks.

Experts are of the view that vaccine news has triggered risk-on sentiment. For bulls to remain in charge of D-Street, it is important for the Nifty50 to hold on to 12900 levels, suggest experts.

The Nifty has reached the long-term resistance of significant uptrend line (trend line connected the rising tops of the last two years-as per weekly/monthly chart). Presently, Nifty is making an attempt of breaking above this crucial overhead resistance at 12850 levels.

“Any slowing down of upside momentum around this area could bring some profit booking from the highs and a decisive/ sustainable move could open the next upside target of 13500 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities told Moneycontrol.

“The short term trend of Nifty continues to be positive. The market is now placed at the make or break area of 12850-12900 levels in the short term. Inability to generate further strength in the upside momentum could result in a minor weakness from the highs in the next 1-2 sessions,” he said.

Index	Prices	Change	Change%
Sensex	82,500.82	328.72	+0.40%
Nifty 50	25,285.35	103.55	+0.41%
Nifty Bank	56,609.75	417.70	+0.74%

Nifty 50 25,285.35 103.55 (0.41%)

Fri, Oct 10, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Cipla	1,561.80	48.70	+3.22%

Biggest Loser	Prices	Change	Change%
Tata Steel	173.86	-2.56	-1.45%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	7695.80	126.50	+1.67%

Worst Sector	Prices	Change	Change%
Nifty Metal	10261.55	-94.65	-0.91%

Shetti further added that a decisive move above this hurdle could open the next upside target of 13500 for the next couple of weeks.

Here is what experts think that investors should do on November 18:

Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.

The Nifty had a gap up opening on November 17. Though it couldn't build upon the early gains it maintained the positive stance. The current leg of the rally which started from the beginning of November, achieved its equality target (12850) on the upside.

Structurally, there is scope for an extension on the upside, which means the index can continue to stretch higher. Going ahead, 13000 & 13350 will be the key short term targets to watch out for. On the flip side, 12750-12700 will act as a near term support zone for Nifty.

Ajit Mishra, VP - Research, Religare Broking Ltd

The upbeat global markets combined with the news of successful vaccine trails is helping the benchmark to inch higher with every passing day.

However, given the sharp up move recently, markets may see some consolidation however the bias would remain on the positive side. Further, with earnings season largely over, we expect global cues to dictate the market trend ahead.

Amid all, the broader markets are attracting noticeable traction so traders should plan their positions accordingly.

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

Positive news on the Covid-19 vaccine sparked a rally in global markets resulting in a rub-off effect on domestic shares as well. Shares tied to the core economy logged gains, raising hopes of an economic reopening.

Although the Nifty is trading at the stiff resistance level of 12900/13000, the momentum in the market is uninterrupted and that's the reason the stock-specific activity is picking up. Avoid taking long trades on the Nifty 50 Index.

As per candlestick patterns, the Nifty has formed a "Hanging Man" formation at the highest point of the day. Till the market is not closing above the level of 12950, we could see stock-specific activity in the market.

Ashis Biswas, Head of Technical Research, CapitalVia Global Research- Investment Advisor

12770 is going to be a key support level for the market for the next few trading sessions. Any break below this level we may expect a short-term correction till 12480.

On the upside, as there is significant divergence in most of the oscillator like RSI, MACD we expect market participants will use any rally to book profit rather than building a fresh positions. Any significant rally from here is unlikely before we see some correction. 12930-12950 is likely to act as a supply zone.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.