Nifty can hit 9,550 levels: Devang Shah

Nifty outlook and stock picks from Devang Shah for today's session

NIFTY           
CLOSE- 9,313.80 (02.05.17)
 
Market managed to found support particularly on main indices NIFTY/SENSEX at lower end of range near recent lows & closed weekly in positive territory. It looks like possibility of END of TIME WISE short term consolidation in preceding last two weeks. It made a low of 9075 levels on nifty & 29241 levels on Sensex last week. After holding these supports, it started to extend further on upside as expected. All the other indices also closed weekly in positive territory. One should expect market to trend towards higher levels targets till it reverses.