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

NIFTY      

CLOSE- 11823.30  (14.06. 2019)

Market closed second consecutive week in the negative territory. It is showing loss of momentum after achieving my short-term target as mentioned earlier. It made a high of 12,103 levels on Nifty and 40,312 levels on Sensex. It seems market will correct first before heading towards higher targets in medium-term till short-term reverses. On the other hand, we may see market to trade in the range between 11,500-12,000 levels on Nifty as time-wise consolidation before heading towards higher targets in medium term.

It looks like the possibility of the end of 5 wave advance from bottom