Market View: 16-20 Jun 2014

Filed in Market Update by on June 16, 2014 0 Comments
Week Market View: 16-20 Jun 2014
Market This Week Last week was a volatile one. There was a sharp fall on Friday which was not seen in the last 3-4 months. It was mainly due to uncertainty over rising oil prices. This was a correction and we must say it was a much needed one after the clear one way rally. The midcaps which have participated heavily in the rally since September 2013 took a massive beating. The correction was not sector specific; it was seen across all the sectors. Please note that this correction should NOT prompt us to stay away from the markets. Issues like the rising oil prices cannot make a major impact to our bull run. Remember that the bull markets never move linearly! They take beating every now and then before their next move. So do not panic as we are still in a very good shape. The markets would be volatile for a while and would be on track soon. If your positions have triggered stop losses, there is a chance that you could still get opportunities to exit them close to the buying prices. There will be resistance at 7600-7650 levels and the NIFTY will get some good support at 7400-7450 levels. Be a little cautious for this week but do not allow these setbacks to hold you back. All the best!

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