Short-term outlook for the market remains negative: Devang Shah

Market outlook and top trading ideas by independent market analyst Devang Shah

NIFTY      
CLOSE- 11724.10  (21.06. 2019)
 
Market closed third consecutive week in the negative territory. It consolidated in a narrow range of 11,850-11,600 levels on Nifty owing to time-wise correction as expected. Its looks like market will consolidate/correct first before heading towards higher levels in the medium term till short term reverses.
 
There is a possibility of End of 5 wave advance from bottom of October 2018 on the main indices such as Nifty/Sensex and Bank Nifty. It looks like some price-wise correction for lower levels till lower end of the channel in short term before