Weekly market outlook and two stock recommendations by Devang Shah

The short-term outlook for the market remains positive till Nifty trades above 10,940 levels.

NIFTY      

CLOSE- 11870.65  (07.06. 2019)

Market closed the week in the negative territory. It witnessed profit booking from higher levels. It made high of 12,103.05 levels during the week. One needs to watch out market behavior at these crucial levels. We may see market to consolidate in a narrow range of 11,500-12,100 levels in short term till these recent high gets surpassed. Close and sustenance above these levels will finally confirm trend towards further higher level targets as mentioned below in short- to-medium term. 

Short-term wave count structure is still not conclusive but we may see some time-wise or price-wise consolidation