Weekly market outlook and top stocks that Devang Shah is bullish on

The short-term outlook for the market remains positive till Nifty trades above 10,940 levels and the expected target is in the range of 12,300-12,400 levels.

NIFTY      

CLOSE- 11844.10 (24.05. 2019)

Market closed in the positive territory for the second consecutive week in the week gone by. It has achieved my short term target near recent high as expected last week. It made a high of 12,041 levels. It was highly volatile week due to election events. One needs to watch out market behavior at these crucial levels till these recent high gets surpassed. Close and sustenance above these levels will finally confirm trend towards further higher levels as mentioned below in short- to-medium term.

Short-term wave count structure is still not conclusive but we may see