Short-term outlook for market negative: Devang Shah

Short-term outlook for the market remains negative till Nifty trades below 11603 levels and expecting targets in the range of 9950-10000 levels in short term

NIFTY      

CLOSE- 10316.45 (05.10.2018)

Market closed 5th consecutive week in positive territory. It witnessed sharp sell off from higher levels beyond short term targets levels. It was highly volatile during the week. It made a low of 10,262 levels on Nifty & 34,202 levels on Sensex during the week. One can expect lower levels targets as mentioned below in case of any kind of further panic situation if these lows breaks further. As market is in oversold zone, one should also watch out any sign of initial pull back rally in near term. The divergence between midcap/small cap