Nifty outlook & two stock ideas by Sameet Chavan of Angel One

18,000 holds key for the bulls and as long as it is defended comfortably, the bulls have no reason to worry about

Markets had a soft opening to the week last Monday taking into consideration some nervousness on global bourses. However, the things settled thereafter as we witnessed a strong close above 17,900 for the first time ever. This was followed by back to back excellent trading sessions for our market and in the process, the Nifty not only reached yet another milestone of 18,000 but even surpassed it comfortably to mark new highs beyond 18,300. After two weeks’ slight pause, Nifty finally resumed its upward trajectory to add more than a couple of percent to the mighty bulls’ kitty.

Despite being