Nifty target to be expected between 9,120-9,150 in short term: Devang Shah

Short term outlook for market remains positive till Nifty trades above 8,680, says Devang Shah

NIFTY
 
CLOSE- 8939.50 (23.02.17)
 
Nifty closed fifth consecutive week in positive territory. It extended further on upside & achieved short term targets levels as expected last week. It made a high of 8,982.15 levels on Nifty so far in this rally. It’s showing loss of momentum at the end of expiry day. Traders also booked profit from higher levels ahead of long week end holiday at the end of expiry.
 
It’s still trading in parallel channel as per daily chart of nifty. It can still further stretch till upper end of channel towards revised short term targets