Short-term outlook for market remains negative: Devang Shah

Short term outlook for market remains negative till it finally confirms end of these wave-IV short term correction, says Devang Shah.

NIFTY      

CLOSE- 11143.10 (21.09.2018)

Market closed third consecutive week in negative territory. It has fallen sharply beyond anticipation during the week. It has completely deteriorated wave count structure on main indices as expected. It made a low of 10,866.45 levels on Nifty and 35,993.64 levels on Sensex so far in this correction. Break of these lows will lead to extension of correction for further lower levels targets as mentioned below in short term. Till then, market may trade in range with high volatility. Short term outlook for market remains negative till it finally confirms end of these