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

The short-term outlook for the market remains positive till Nifty trades above 10,583 levels and expecting targets in the range of 11,550-11,600 levels in short term, says Devang Shah.

NIFTY 

CLOSE- 11054.10 (07.02.2019)

The market finally broke out of the last 2 months consolidation range on the upside. Nifty showing impulsive structure from recent lows. One can expect the market to trend towards higher levels targets as mentioned below till it reverses. Any kind of decline or consolidation is buying opportunity till short term reverses.

It looks like the beginning of wave-III of 5  from overall wave count perspectives. Broader market ( Midcap/Smallcap) is still underperforming at current levels of the market. It has to participate in this rally now & these divergences between main indices & broader market are