Short-term outlook for market looks positive; Buy Pidilite, Powergrid

The short-term outlook for the market remains negative till Nifty trades above 10,138 levels and expecting targets in the range of 1,080-11,100 levels in short term.

NIFTY     

CLOSE- 10472.50 (12.10.2018)

Market closed 1st weekly positive close after the decline of consecutive preceding five weeks. We have seen sharp selloff across the board in preceding last five weeks. It made a low of 33,723.50 levels in Sensex & 10,138 levels on Nifty in this correction. It sharply reversed from these levels & closed weekly in positive territory. It looks like the end of short-term correction after 5 wave decline from peak and one can expect pullback rally to continue further towards higher levels targets till short-term reverses.

It looks like the high possibility of