The NIFTY opened at 21647.25 with a huge gap down of 385 points. The index initially bounced up sharply for the first five minutes of trading but failed to fill the gap and turned down. Prices have recorded its intraday high at 21851.50 and saw a sharp decline of almost 300 points. The down move was sharp and lasted for the whole day without any relief rally in between. The index moved sideways for the last 30 minutes of trading and recorded its intraday low at 21550.45. Prices have finally closed at 21571.95 with a loss of 460.35 points or 2.09% down. The IT sector outperformed and was the only sector that closed with a gain of 0.64% BANK and FINANCIAL underperformed, led the bears, and closed with a loss of over 4% followed by METAL, REALTY, and AUTO. The short-term trend is down now. We have been tracking support around 21500 and resistance around 21800. The NIFTY broke the support level decisively and closed much lower. The long-term trend is down while the long-term momentum turned down from the strength zone and is now heading toward the weak zone.


The BANK NIFTY opened at 46573.95 with a huge gap down of over 1500 points. The index initially moved higher, but failed to continue that momentum and started drifting downwards after recording its intraday high at 47212.75. From this point, the index kept on sliding lower for the whole day, saw a down move of more than 1000 points, and recorded its intraday low at 45979.60. Prices have finally closed at 46083.50 with a loss of 2028 points. PVT BANKs have underperformed, saw a sharp downside move, and ended with a big loss of 4.23%. PSU BANKs have also moved down, saw a sharp intraday decline, and ended with a loss of 1.74%. Within the index, in terms of points, HDFC BANK contributed the highest on the downside followed by ICICI BANK. The short-term trend is down now. We have been tracking a narrow trading range of 1500 points with support around 47000 and resistance around 48500. The index was broken down decisively and also reached the pattern target on the same day.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIGI.24.01 Jan 1455.95 5.78 9.58 4015500 IEX.24.01 Jan 148.25 -9.8 16.22 78266250
OFSS.24.01 Jan 5098.65 3.41 15.15 833000 HDFCBANK.24.01 Jan 1546.85 -8.13 25.57 124359400
BSOFT.24.01 Jan 803.45 2.6 5.66 5174000 SAIL.24.01 Jan 113.35 -5.74 2.85 140720000
BHEL.24.01 Jan 208.7 2.35 2.15 79626750 TATASTEEL.24.01 Jan 131.75 -4.32 8.09 237682500
POLYCAB.24.01 Jan 4444.5 2.33 0.01 3082900 BANKNIFTY.24.01 Jan 46200.3 -4.2 35.2 2727960
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LTTS.24.01 Jan 5552 3.53 -20.64 846600 IDEA.24.01 Jan 15.1 -4.13 -0.89 1709280000
METROPOLIS.24.01 Jan 1572.7 1.51 -6.89 1216800 NATIONALUM.24.01 Jan 134.2 -3.66 -6.65 66360000
L&TFH.24.01 Jan 170 1.25 -1.54 38261650 ABFRL.24.01 Jan 224.25 -3.47 -2.74 31558800
HCLTECH.24.01 Jan 1561.6 1.19 -1.06 14568400 ZEEL.24.01 Jan 245.5 -3.19 -0.2 99891000
SBILIFE.24.01 Jan 1423.4 1.04 -1.61 6452250 AARTIIND.24.01 Jan 583 -3.17 -3.53 11097000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2562.9 -0.24 3047652 1255312 78.49 Nifty50 21571.95 -2.09 71499
Piind 3420.9 -1.73 274487 252690 76.53 Niftybank 46064.45 -4.28 71499
Sbi Life Insurance Compa 1421.15 0.88 2628568 1280656 74.07 Nifty it 36960.4 0.64 71499
Infosys Limited 1640.2 0.53 9209876 4710032 72.45 India Vix 15.08 11.13 71616
Tvs Motor Company Limite 2016.8 -0.83 727553 975524 72.37 Nifty Fmcg 56259.5 -0.87 71499
Godrej Cons Products Ltd 1100.5 -1.99 1949800 1211426 72.02 Nifty Pharma 17154 -0.96 71499
Kotak Mahindra Bank Limi 1779.65 -3.7 10836883 3324792 71.49 Nifty Realty 856.3 -1.42 71499
Voltas Ltd. 1052.7 0.12 1388891 999585 71.08 Nifty Auto 18447.25 -1.42 71499
Shriram Finance Limited 2288 -0.94 1061729 943833 70.99 Nifty Metal 7693.55 -3.13 71499
Abbott India Limited 25750 -0.22 15925 36394 70.6 Nifty Financial Services 20528.9 -4.28 71499


   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 19th January, 2024

INR: Federal Fiscal Deficit (Dec) on 31st January, 2024

USD: Philadelphia Fed Manufacturing Index (Jan) on 18th January, 2024

USD: Building Permits (Dec) on 18th January, 2024


  • While the benchmark indices tanked over 2% on Wednesday—weighed mostly by banking stocks—market analysts said the pain has just started and investors must switch to a “sell on rise” strategy. Banking stocks looked topped out even a few weeks ago, according to Jai Bala, founder and chief market technician at Cashthechaos.

  • Asian Paints on January 17 reported a consolidated net profit of Rs 1,475.16 crore for the third quarter of the financial year 2023-24, up 34.4 percent from Rs 1,097.06 crore in the year-ago period. Sequentially the profit was up 19.69 percent.

  • Adani Group plans to retain a 7 percent stake in its packaged goods joint venture, Adani Wilmar Ltd, after a planned share sale to global alternative investors, people aware of internal discussions said. The Indian infrastructure conglomerate, along with its foreign partner Wilmar International, will, however, maintain a majority 51 percent stake in the venture, they said.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
360ONE Quarterly Results;Interim Dividend 18-Jan-24 MAGNUM Right Issue of Equity Shares;General 18-Jan-24
ACCELYA Quarterly Results;Interim Dividend 18-Jan-24 MARKOBENZ Quarterly Results 18-Jan-24
ANANTRAJ General 18-Jan-24 MASTEK Quarterly Results;Interim Dividend 18-Jan-24
ASINPET Right Issue of Equity Shares;General 18-Jan-24 METROBRAND Quarterly Results;Interim Dividend;General 18-Jan-24
AURUM Quarterly Results;General 18-Jan-24 MKEXIM General 18-Jan-24
BRIGHT Preferential Issue of shares;General 18-Jan-24 NATHBIOGEN Quarterly Results;General 18-Jan-24
DBOL Quarterly Results 18-Jan-24 NETLINK Quarterly Results 18-Jan-24
DRAGARWQ Quarterly Results 18-Jan-24 POLYCAB Quarterly Results 18-Jan-24
DRCSYSTEMS Quarterly Results;General;Bonus issue 18-Jan-24 POONAWALLA Quarterly Results;Interim Dividend;General 18-Jan-24
ENCASH General 18-Jan-24 QUASAR Quarterly Results 18-Jan-24
FERVENTSYN Quarterly Results 18-Jan-24 RAJNISH Quarterly Results;General 18-Jan-24
FINPIPE Quarterly Results 18-Jan-24 RATHIST Preferential Issue of shares;General;Rights Issue 18-Jan-24
GGAUTO Quarterly Results;General 18-Jan-24 REVAORG Quarterly Results;General 18-Jan-24
GGENG Quarterly Results 18-Jan-24 RKFORGE Quarterly Results;General 18-Jan-24
HOMEFIRST Quarterly Results;General 18-Jan-24 SHAKTIPUMP General 18-Jan-24
INDIAMART Quarterly Results;Audited Results 18-Jan-24 SHOPERSTOP Quarterly Results;General 18-Jan-24
INDUSINDBK Quarterly Results 18-Jan-24 SHRINIWAS Quarterly Results 18-Jan-24
INNOVACAP Quarterly Results;General 18-Jan-24 SOUTHBANK Quarterly Results 18-Jan-24
JSL Quarterly Results 18-Jan-24 SPENTA Quarterly Results;General 18-Jan-24
KDDL Interim Dividend;General 18-Jan-24 SPLPETRO Quarterly Results 18-Jan-24
KSOLVES Quarterly Results;Interim Dividend 18-Jan-24 STANCAP General 18-Jan-24
LYNMC Quarterly Results 18-Jan-24 STL Quarterly Results 18-Jan-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CHAMBLFERT 18-Jan-24 Buy Back of Shares KDDL 25-Jan-24 Dividend
SAPPL 18-Jan-24 Right Issue of Equity Shares KSOLVES 25-Jan-24 Interim Dividend
ADROITINFO 19-Jan-24 Right Issue of Equity Shares MASTEK 25-Jan-24 Interim Dividend
GRCABLE 19-Jan-24 Resolution Plan -Suspension RHL 25-Jan-24 E.G.M.
HCLTECH 19-Jan-24 Interim Dividend – Rs. – 12.0000 360ONE 29-Jan-24 Interim Dividend
SBC 19-Jan-24 Bonus issue 1:2 ACCELYA 29-Jan-24 Interim Dividend
TCS 19-Jan-24 Special Dividend – Rs. – 18.0000 CROPSTER 29-Jan-24 E.G.M.
TCS 19-Jan-24 Interim Dividend – Rs. – 9.0000 GOACARBON 29-Jan-24 Interim Dividend – Rs. – 10.0000
TINPLATE 19-Jan-24 Amalgamation HITKITGLO 29-Jan-24 E.G.M.
MASFIN 22-Jan-24 Interim Dividend – Rs. – 3.0000 INDINFO 29-Jan-24 Right Issue of Equity Shares
ANGELONE 23-Jan-24 Interim Dividend – Rs. – 12.7000 PCBL 29-Jan-24 Interim Dividend – Rs. – 5.5000
ASARFI 23-Jan-24 E.G.M. SINCLAIR 29-Jan-24 Bonus issue 1:1
AKSHAR 24-Jan-24 E.G.M. GOTHIPL 30-Jan-24 Interim Dividend
PRIMEFRESH 24-Jan-24 E.G.M. PERSISTENT 30-Jan-24 Interim Dividend
SHRAJSYNQ 24-Jan-24 E.G.M. SIEMENS 30-Jan-24 Final Dividend – Rs. – 10.0000
WIPRO 24-Jan-24 Interim Dividend – Rs. – 1.0000 AURIONPRO 31-Jan-24 E.G.M.
AHLEAST 25-Jan-24 E.G.M. BIGBLOC 01-Feb-24 Interim Dividend
ARNOLD 25-Jan-24 Buy Back of Shares HARSHILAGR 01-Feb-24 E.G.M.
BRIJLEAS 25-Jan-24 E.G.M. HAVELLS 01-Feb-24 Interim Dividend
DOLPHIN 25-Jan-24 Stock  Split From Rs.10/- to Rs.1/- PURVA 01-Feb-24 Interim Dividend
IIFL 25-Jan-24 Interim Dividend REGENCY 01-Feb-24 E.G.M.
JOYREALTY 25-Jan-24 E.G.M. ROUTE 01-Feb-24 Interim Dividend

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