CAN NIFTY MARK ALL TIME HIGH...????

Nifty has managed to cross the 5930 level and the bottom support at 5820is well built. The Nifty may test 5930-50 level due to IIP numbers and the cyclone impact but the actual support at 5800 is crucial for now.

The INFY has generated some buying interest in the markets but the ODDs are still weighing high. The TCS and RIL results will be good but the TCS run-up before results may dampen the rise. The Infy also may not help much to Nifty at this juncture. The RIL negative news is not over. Unless the stock trades firmly above 879, there is always a threat built in to touch 809. The corporate results of BANKs will show the real direction to NIFTY as they are still attracting BEAR-BLOW. The INDUSIND Bank, ICICI, AXIS and HDFC duo will lay the road for next course of BANK Nifty journey.  The resistance at 10300 has just crossed to touch 10650 level, from a low of 8600 touched on 4^th SEP-13 but touched a high of 11200 on 19^th Sep-13. Similarly Nifty also made a decent journey from a low of 5320 to 6147 and now ruling at 6100 level.

The CAD issue is not an alarming issue and the FIIs inflow into Equity is rising since the 1^st week of Sep-13. The Rajan effect is still working as the Rupee depreciation is arrested and the recovery is notable. The Banks are allowed to rise dollars generated a fresh hope and simultaneously RBI selling dollars has given right signals to short sellers on RUPEE. The interantional meetings and invitations by the PM and FM may raise some hope of “Best opportunity to Invest in India”, that can translate into some buing interest. The IIP numbers are not encouraing but the Exports did. So there is some GOOD news and some BAD news built in.

The week a head is much dependant on the corporate results from TCS, INDUIND, HDFC Bank, AXIS Bank, HCL Tech, LT and RIL. The results may not kick start a fresh journey unless the US deadlock ease and give boost for some more upside at DOW. The temporary downside may prolong if NIFTY fails to register new HIGH in OCT-13 series. The IT and pharma may do well with their export driven orders. Now the RIL may add better results. So, there is a better chance of crossing the yearly high of 6230 despite of the above said issues.