Nifty outlook and top trading ideas by Devang Shah for today

11,000 and 12,000 are strong support and resistance levels, respectively based on option open interest (OI) data for current month series.

NIFTY      

CLOSE- 11278.90 (11.05. 2019)

Market, last week, ended in the negative territory for the third week in a row. Nifty has broken crucial support of 11,550 levels and witnessed sharp fall during the week. We have seen selling pressure across-the-board. It still looks like profit booking ahead of election results this month.  Any kind of decline or consolidation is buying opportunity in individual stocks till short term reverses. 

Short-term outlook for the market remains positive till Nifty trades above 10,940 levels and we expect targets in the range of 12,300-12,500 levels in the short term. Medium-term outlook for