Stock picks by Sameet Chavan of Angel Broking: Buy Jamna Auto, Mindtree

Traders are advised to avoid carrying aggressive bets overnight while trading in Nifty

Nifty Outlook 

Bulls defended the territory, better to take one step at a time 

The previous week’s tail-end surge was followed by a good start on Monday; but the overall trading range was extremely narrow. We continued upward momentum on the following day as well. In fact, on Wednesday, markets started with a bang, at a three-month high. But, all of a sudden, the indices nosedived from higher levels. This turned out to be a profit booking after a consistent rally of nearly 800 points in a span of 5-6 days. Last couple of days’ price action was more of a range