Market Outlook for 16th June, 2014

Nifty Future:

Market was due for correction for a very long time and Iraq problem finally spooked the market and its set to correction for sometime. But one has to remember that bull market corrections are shallow and swift and will cover all losses very fast and scale new highs.

Nifty Future can pullback to around 7620 and that could be ideal level to take risk for  shorting with all time high as Stop and look for it to test the support level of 7320 for swing trade.

Stock Future: ( Swing Trade )

HCL Tech appears to moveup above 1445 for target of 1560  & 1630 and and so too ACC can be bought if it corrects to around 1390 with Stop at 1340.

Good Luck and Trade Well !!