Technical view: Nifty can hit 10,700 in the short-term

Market outlook by Devang Shah

NIFTY      

CLOSE- 10333.25 (15.12.17)

Market managed to find support at lower levels & sharply bounced back & closed 2nd consecutive week in positive territory. The recent correction turned out to be “ abc ”  as written on my last weekly update & now  expecting one more last leg on upside in short term till it reverses from wave count perspectives. One should expect market to trend towards higher levels targets till it reverses. Trader should be stock specific & book profit regularly in this last phase of extended rally as per chart attached.

Market has broken crucial support on Nifty &