Expecting target of 10,000 on Nifty in medium term, says Devang Shah

Short term outlook for market remains positive till Nifty trades above 8,860 level, says Devang Shah

NIFTY
 
CLOSE- 9160.05 (17.03.17)
 
Nifty closed secondconsecutive week in positive territory. It has achieved my first short term targets levels as expected last week. It made a high of 9,218.40 levels so far in this rally. Nifty indices has surpassed its previous life time high of around 9,119.20 levels; created new record during the week. All the other indices also extended gain as expected & closed weekly in positive territory.
 
Its extending in wave-V as per weekly charts as per short term wave counts. It’s advisable to follow simple DOW THEROY in such kind of extend rally