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

Medium term outlook for the market remains positive till Nifty trades above 8,968 levels, says Devang Shah

NIFTY     
CLOSE- 10618.25 (04.05.2018)
 
The Market closed first weekly negative close after five-consecutive week of positive rally from bottom. It slow but steady extending on upside towards short term targets levels range as expected last week. It made a high of 10784.65 levels on Nifty & 35,357.15 levels on Sensex so far. It looks like wave-(I) of 5 completion with weekly negative close & one can expect wave-II correction or consolidation before wave-(III) of 5 begins. It looks time wise consolidation rather price wise correction in this wave-II phase of Market as per my preferred view. Any kind of