Nifty may consolidate in the range of 11,300-11,700: Devang Shah

The short-term outlook for the market remains positive until Nifty trades above 11,118 levels.

NIFTY      

CLOSE- 11,623.90 (29.03.2019)

The market closed in positive territory for the sixth consecutive week. It extended gain further as expected last week.  It made a high of 11,630.40 levels during the week. It’s very close to my short term targets levels as expected earlier in my weekly update. One can expect the market to extend towards higher level targets as mentioned below till it reverses. One can’t rule out profit-booking from higher levels. Any kind of decline or consolidation is buying opportunity till short-term reverses.

We have seen sharp rally on Bank Nifty and Nifty in the