CAN NIFTY CROSS...5930 LEVEL...????

The Rajan effect or the fear of TIGHTER DAYs have gone and LIGHTER DAYs are ON---has changed the capital markets COLOUR in India.

There is no change in the ground reality but the HOPE has generated jubilant mood in the markets..may be the way the markets react is always SURPRISING…

In my personal opinion a collective GROUP will play the SONG and many dance to the TUNES….

Now the Nifty has not lost the BEAR hug but the immediate threat to breach 5300 and 5100 to touch 4800 is a distance dream. Either, the BULLS could see some light at the tunnel to cross the series of hurdles placed at 5775…5840---5930. 

The momentum indicators also generated hope to touch 6200 level  but the fundamentals fail to support such dreams. The new range set in due to change in guard at the RBI is 5900-5400. 

The Sep-13 results will bring new energy to markets, especially from IT side but the BANKing lot will help the BEARS. The SYRIA threat, Pre-Election offers may dampen the exuberance but new measures to liberalize and infuse FII &FDI dollar flows will help the markets to breath easier. The Telecom licensing auction will see some activity. The Tablet and mobile phone offers will definitely an added advantage to BSNL to revive its plan to go to IPO. The future of the telecom stocks is bright and the RIL-JIO will add flavour.

The ICICI rise is very interesting and the stock coul clear many hurdles in two days of rise from 760-960, it had a serious cut in the price from 1050 level to 950 level in July15-20. Now it could bounce to a better place in two days. The worst is not over to AXIS but the 40 lakh OI short covering helped the stock to gain from a low of 760 to 960. The HDFC bank worst is not over despite of the rise from 528 to 623 level.

The best Buying opportunity will emerge in metal stocks. The mining stock like SESAGOA will open good buying opportunity at 160 level and Tatasteel at 255-250 level. Both the counters will out-perform the market in near term and will see 100% rise in next one year and half. The surprising short build up has opened in RIL and M&M. The ONGC could see some short covering.