Nifty outlook and top trading ideas by Devang Shah for today's trade

Short-term outlook for the market remains positive till Nifty trades above 10,417 levels

NIFTY     
CLOSE- 10767.65 (08.06.2018)
 
Market closed 3rd consecutive week in positive territory. It further consolidated in narrow range during the week with positive momentum. It looks like triangular consolidation kind of possibility in wave-ii as preferred wave count alternate in short term. Any kind of decline or short term consolidation is stock specific buying opportunity till short term reverses. One can expect higher levels targets as mentioned below in short to medium term.
 
Alternatively, Nifty has resistance around 10,800-10,900 levels, failed to sustain above these levels will open up alternate possibility of bigger triangular consolidation structure in wave-IV