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

The short-term outlook for the market remains positive till Nifty trades above 10,417 levels and expecting targets in the range of 10,900-11,000 levels in short-term, says Devang Shah.

NIFTY      

CLOSE- 10,772.65 (06.07.2018)

The market closed at the upper end of the range near the breakout levels at the end of the weekly trading session. It closed weekly in positive territory. It made a high of 10,816.40 levels & 35,799.71 levels during the week. Its still consolidating in the broad range of 10,400-10,900 levels from past one & half month. Break of these ranges will only lead to a strong trend in the market for higher levels targets as mentioned below in short to medium term.

It looks like wave-II of 5 of consolidation. If we have completed FLAT correction then, we can see high