Street signs: Traders eye 18,400 on Nifty, go short on Bajaj Auto, and more

Traders eye 18,400 on Nifty

The benchmark Nifty close above 18,000 has given more ammunition to bulls. Market watchers say traders have mounted bullish bets on optimism that the index will touch 18,400. The Nifty on Friday closed at 18,103. Technical analysts believe the market trend remains positive as long as the index sustains above 18,000. “For the trend following traders 18,000 would be the sacrosanct level,” said  Shrikant Chouhan, head of equity research (retail), Kotak Securities. “As long as the index is trading above the same the uptrend wave will continue up to 18,200-18,400, while on the other hand, a