Nifty outlook and top trading calls by Devang Shah

Short-term outlook for the market remains positive till Nifty trades above 10,300 levels and expecting target of 10,700-10,850 levels, says Devang Shah

NIFTY      

CLOSE- 10530.70 (29.12.17)

Market closed 5th consecutive week in positive territory. Its extending on upside towards short term targets levels as expected. It closed at highest levels at the end of calendar year 2017.  Typically, Market is entering in to crucial resistance zone of 10,600-10,800 levels on Nifty & 34,500-35,500 from wave count perspectives. One should watch out market behaviour is this resistance cluster zone. Sustain above higher end of this cluster zone will only confirm further extension of this rally in short-term till thEN, trader should be stock specific and keep booking profit at periodic intervals in