Expect Nifty to trade near 10,700 levels in medium term: Devang Shah

Recommends buying Petronet LNG, Bata India, Inida Cements and Ashok Leyland

NIFTY - CLOSE-9520.90 (30.06.17) 
 
Market closed weekly in negative territory. It has broken crucial support of 9500 levels on nifty last week in expiry volatility. It made a low of 9448.75 levels on nifty & 30,680.66 levels during week. It still managed to hold crucial support of 40 DMA near 9500 levels on nifty at the end of weekly trading session as per chart attached. It still open case “ Whether its Correction or Extension?” from wave count perspectives as per chart attached but still I feel Dow Theory supports to watch out for finally conclude short term reversal