Short-term outlook for the market remains negative: Devang Shah

Short-term outlook for the market remains negative till Nifty trades below 10710 levels and expecting targets of 9900-9950 levels in short term

NIFTY      

CLOSE- 10030 (27.10.2018)

Market closed surprisingly weekly in negative territory. It has broken last week lows on both Sensex & Nifty. It made a low of 10004.55 levels on nifty & 33291.58 levels on Sensex during the week. It has made me surprised & still not conclusive for me that its missing wave-V or Extension case for short-term from wave count perspectives. But changing short-term outlook till we get any kind of further evidence to conclude the end of short-term correction. As the market is near crucial medium-term support levels, one can’t rule out any kind of