Nifty in uncharted territory; keep booking timely profits: Sameet Chavan

We advise continuing with one step at a time approach and keep booking timely profits in the rally

The August month started with a bang as we not only managed to reach the much-awaited milestone of 16,000 but also moved beyond it convincingly. This was followed by a quiet start on Monday, August 9. In fact, during the first three trading sessions of last week, our markets consolidated with some hint of profit booking at higher levels. Fortunately, the mighty bulls provided cushion at the lower range of 16,200 – 16,170 for the Nifty. On the weekly expiry day, we had a gradual up move to register a new all-time high at 16,375 which was then followed by