Expect Nifty to trade in 8,800-9,200 zone in expiry week, says Devang Shah

Nifty may consolidate in the range of 8,930-9,200 in short-term before further up trend resumes

NIFTY

CLOSE- 9,108 (24.03.17)

Nifty closed the week in a negative territory. It witnessed profit booking during the week after achieving short-term targets levels as expected last week, from new record high levels on Nifty index. It made a high of 9218.40 so far in this rally. It made a low of 9019.30 during the week and further bounced back from lower levels. It found support near physiological support of 9000 levels ahead of expiry next week. Weekly negative close on main indices (Nifty/Sensex) indicating completion of 5 wave advance rally. Will it extend from here on i.e. to watch out in