Top trading ideas by Angel Broking: Buy Ultratech Cement, Tata Steel

Stock calls and outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking.

Head start for the new financial year, fresh record highs soon

The inaugural week of the new calendar year kicked off higher owing to cheerful mood across the globe. However, this early lead could not be extended much due to lack of follow-up buying on the subsequent days. On Wednesday, our benchmark Nifty did register a new high; but it was not even by a single point and hence, eventually turned out to be a formality. We saw modest profit booking after this development in the next couple of days to sneak marginally below the 11,600-mark.
Fortunately, this profit-booking did not