NIFTY MAY GAIN from USA debt seal.......!!!!!!!!!!!

The overnight encouraging news from US and the recovery of the Europe markets from their lows may spill some positive effect on the opening BELL and may continue for the day as the markets lost 30 points in the previous session and BANKNIFTY lost more than 450 points from the days HIGH. So recovery may adjust.The markets may stay firm as the results announced are not as bad as the markets take that as SURPRISE. So the BULLs may have the courage to hold for some more time. The NIFTY OI is also adding. The markets may see some adjustments in KM Birla companies as the COAL GATE opened new doors for controversies and endless "Can of Worms"........

The AXIS Bank and HCL Tech Results will be announced today and L&T tomorrow. The RIL has good support at 830-835 for  this series. The stock has potential to lead the NIFTY rally in future and very good BLUE chip for a 1260 range for next 18 months.  The BHARATI though may offer tepid results in this quarter  but has very good potential to touch 420 level.

The Nifty is likely to see some serious SWINGS as the results of the banking stocks are not encouraging but the “Change in the provisions” and “Held to Maturity” saved this quarter to HDFC Bank, INDUS has given good results but lost 8% in value and other Banks may also provide similar results. The street may not give THUMPSUP response and may down grade as the future “Un-Certainties are Un-folding”. The immediate Nifty down side is very much protected at 5850-85 level and it is good to BUY at declines for a “SWING up MOVE”.

The NIFTY will have strong support at 5300 level and the LONG-TERM positions for decent profits can be built from 5300 to 4900 level. The BLUE chips like TCS can be available at sub 1400 level and the HDFC bank may see a comforble level at 450-485 range and the technical are showing weak uptrend and  strong down trend for  other banks like AXIS may see some serous correction down the line to 500 range and ICICI Bank may see 625-580 range. But the immediate future upside is potentially strong for IT and metal space.