Short-term outlook for market remains negative: Devang Shah

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

NIFTY      

CLOSE- 10,930.45 (28.09.2018)

The markets closed the 4th consecutive week in negative territory. It was highly volatile for the week. It was traded in the broad range of 11,170-10,850 levels during the week. It made a low of 10,850.30 levels during the week. Break of this lows will confirm the extension of correction for further lower levels targets as mentioned below in short term. Till that market may trade in a range with high volatility. As Market is in oversold zone, we may see surprise pullback rally in short term. But one should follow trend till it reverses. The short-term