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

Short-term outlook for the market remains positive till Nifty trades above 10,534 levels and expecting targets in the range of 11,000-11,300 levels in short term

NIFTY

      

CLOSE- 10863.65 (01.03.2019)

The market closed in positive territory last week. During the week, it traded in a narrow range of 10,700-10,940 levels -- it made a high of 10,939.70 and a low of 10,729.30. A breakout from this range will lead to a trend with momentum towards short-term targets levels, as mentioned below, until it reverses. Any kind of decline or consolidation is a buying opportunity until short-term reverses.

It looks like an end of wave-II of five corrections near recent lows. Broader market (Midcap/Small cap) outperformed Nifty during the week and it is a good sign at current