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

Medium-term outlook for the market remains positive till Nifty trades above 9,951 levels.

NIFTY 
    

CLOSE- 10893.50 (01.02.2019)

Market closed the week gone by in positive territory. It reversed sharply from lower end support levels and remained volatile due to Budget. Nifty is still trading in the range of 10,500-11,000 levels. It broke down from consolidation range on downside during the last week but once again made a further attempt to break these range on upside during the week ahead of Budget. It made a low of 10,630.95 levels during the week. But looking at overall broader market, it is showing weakness indicating short-term down trend till it proven otherwise, one can expect market