Short-term outlook for the market remains positive; Buy HDFC Bank, Cummins

Eventually, midcap and small-cap indices are likely to touch all-time-high during this calendar year

NIFTY      

LAST CLOSE- 11,754.65 

Market closed, marginally, in the negative territory during the past week, consolidating within a narrow range. The consolidation has been in the range of 11,550-11,800 levels for the entire month of April after a sharp surge was seen in the month of March. The broader index has touched a high of 11,856.20 levels on Nifty so far during this rally. There is a high possibility of “wave-III of 5 extension case” in the short term towards a revised higher level target. 11,300 is another strong support on Nifty in the near term. Any kind of decline