Market outlook & two trading ideas by Sameet Chavan of Angel Broking

Traders are advised to remain light for a while and the ideal strategy would be to look at the individual stocks than the benchmark index

Last week, we started on a positive note as the bulls continued their upward journey from where it left the previous Friday. For the next couple of sessions, the benchmark index continued with its habit of making fresh record highs every day. In the process, Niftywent on to reach yet another milestone of 16,700. On this day itself, we witnessed mild profit booking and Nifty closed a tad below 16,600. Our markets were shut on Thursday due to trading holiday and during this time only, the global markets became nervous all of a sudden following US Federal Reserve policy minutes.