Nifty outlook and top trading ideas by Devang Shah for today

The short-term outlook for the market remains positive till Nifty trades above 10,940 levels and it is expected to move in the range of 11,800-12,000 levels.

NIFTY      

CLOSE- 11407.15 (17.05. 2019)

Market settled in the positive territory last week. It managed to hold on to the crucial support of 11,000 levels on Nifty, near its short-term reversal levels as mentioned below. It made a low of 11,108.30 so far in this correction. It’s still expected to trade in the range between 11,000-11,550 levels for short term till we get decisive breakout at either of side ahead of major election results this week. Any kind of decline or consolidation is buying opportunity in specific stocks till short term reverses. 

Short-term outlook for the market remains positive till Nifty