Expecting targets between 12000-12200 for Nifty in medium term: Devang Shah

Recommends buying L&T, HDFC Bank, Asian Paints, ONGC and Concor

NIFTY 
    
CLOSE- 9934.80 (08.09.17)
 
Markets, particularly large cap index (Nifty/Sensex & Bank nifty) have been consolidating in narrow range since past 4-5 weeks. It still looks like bullish triangular consolidation on daily chart as written earlier in my weekly update as well. One can expect higher levels targets as mentioned below in short term till it reverses. It looks like one more leg on upside for this rally is pending started from around Dec-2016 from wave count perspectives as per weekly chart of these large cap index. One should buy stock specific till trend reverses.
 
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