SMI –11th october 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

The markets rallied on back of global support from US. The deadlock between the government and the congress is expected to near an end. This was the reason for the rally.

Infosys came out with the results delivering better than expected result. The stock is up 4% which has taken Nifty to 6080 levels. Nifty is nearing the high of 6142 it made in September. So, the sustainability of these high levels is highly doubtful. The macros have not improved. So, the chances of Nifty making new highs are very bleak.

Today after market hours we have IIP data and on Monday we have inflation data. The inflation data will tell us the stance of RBI and give direction to the market.

Cheers  !!

Team SMI

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