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

Short-term outlook for the market remains positive till Nifty trades above 10,279 levels and expecting targets in the range of 10,900-11,000 levels in short term, says Devang Shah.

NIFTY      

CLOSE- 10605.15 (25.05.2018)

The market closed the week in positive territory after high volatility during the week. It made a low of 10,430.35 levels on nifty & 34,302.89 levels on sensex during week. It looks like possibility of end of wave-II correction as mentioned last week. Any kind of decline or short term consolidation is stock specific buying opportunity till short term reverses. One can expect higher levels targets as mentioned below in short to medium term.

Alternatively, Nifty has resistance around 10800-10900 levels, failed to sustain above these levels will open up alternate possibility of Bullish