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

The short-term outlook for the market remains positive till Nifty trades above 10,534 levels and expecting targets in the range of 11,000-11,100 levels in short term, says Devang Shah.

NIFTY      

CLOSE- 10,791.65 (22.02.2019)

The market managed to hold lower end support/Reversal levels as mentioned below last week & closed weekly in positive territory. It made a low of 10,585.65 levels on nifty & 35,287.16 levels during the week. It looks like the end of wave-II of 5 corrections. One can expect the market to extend 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 end of wave- II of 5 corrections near recent lows. One should closely watch out broader