We modified the optical properties of the $CuInS_2$ nanocrystal (NC) by alloying. Nanocrystals (NCs) with alloyed cores were synthesized by refluxing the as-synthesized $CuInS_2$ NCs with a mixture of cadmium acetate, zinc acetate and palmitic acid. The shift in emission wavelength of the NCs after shell layer formation was minimized by alloying. The photoluminescence (PL) spectra showed significant reduction of emission intensity. A detailed study on the emission process of NCs implies that the formation of shell layers with small lattice mismatch minimized the mismatch strain generated from the shell layers in contrast to core alloyed NCs. In particular, time-resolved PL spectra of the NCs showed a significant increase in the lifetime of excited carriers by modifying the band alignment of the NCs by modifying the shell composition.