Short-term outlook for market remains positive: Devang Shah

Medium term outlook remains positive till Nifty trades above 9,951 levels and we expect targets in the range of 12,500-12,800 levels in medium term.

NIFTY      
CLOSE- 10724.40 (15.02.2019)

Market failed to sustain above 11,000 levels on Nifty after breaking out of range last week and closed near crucial short term support/ reversal levels at the end of weekly trading session. It ended the week in negative territory. Nifty made a high of 11,118 and low of 10620.40 levels, respectively during the week.

One should watch out market behavior at these crucial lower end support/reversal levels for further confirmation of short-term trend. One can expect market to trend towards higher levels targets as mentioned below till it reverses. On the