Nifty's short term target at 5450: Devang Visaria

ET Now caught up with Devang Visaria, Chief Strategist, Devangvisaria.com, to get views on the outlook of Index.

ET Now: What are your views on the index, we have been talking about just purely the levels 18,000 coming in on the Sensex, how is that change like for traders are there because it pretty still pat in that range which keeps getting revised upwards slowly and steadily but its not really a directional move?

Devang Visaria: I think the life is good for the traders. I think now you have the index in a kind of consolidation kind of zone so you are seeing lot of action picking up in the midcap and small caps and that is what the traders thrive on.

ET Now: So what are the levels that you are watching out for the index?

Devang Visaria: I think for the Nifty 5450 is a target for a immediate short term and downside if any from this level should be kept at 5300.