The NIFTY opened at 17443.80 with a big gap down of 146 points. The index recorded its intraday high at 17451.50 just above the opening tick and started drifting downwards. Prices found intraday support just above 17300 and then saw an upside move. The index then started a consolidation process within a narrow trading range which lasted till the end. The index recorded its intraday low at 17324.35. Prices have finally closed at 17412.90 near its opening tick with a loss of 176.70 points or 1% down. All the sectoral indices have moved down today except FMCG which ended with minor gains. The BANK, FINANCIAL MEDIA, and REALTY led the bears today and ended with a loss of over 1%. After such a volatile move, we expect the index to consolidate and form a brief trading range. We have a wide trading range of 500 points within 17300 support and 17800 resistance. Our view is this range should be intact for a couple of weeks. And we may see a consolidation process here. Since the range is wide enough, we should look for a trading opportunity on either side of the market only on an intraday basis.


The BANK NIFTY opened at 40805.25 with a big gap down of 422 points. The index continued its bearish movement and fall further after recording its intraday high at 40839 in its initial trades. Prices have found support around 40400 and then started a consolidation process. The index formed a narrow trading range, recorded its intraday low at 40341.70, and finally closed at 40488.75 with a loss of 739 points. PSU and PVT BANK both indices have performed almost the same today, saw an intraday decline, and closed lower by 2.12% & 184% respectively. Within the index, in terms of points, AU BANK contributed the highest on the upside while HDFC BANK contributed the least. As we have mentioned in our previous letter, prices have been moving inside the 39800-41800 trading range for almost one and a half months and our view is this range should continue for the next couple of weeks. For the time being, we should avoid taking carry-forward trade and shift our focus to intraday trading only.


SUN PHARMA 955.55 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 957.95 with a stop loss of 945.85 and a target of 978.60.
POLYCAB 2946.95 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2920.85 with a stop loss of 2953.45 and a target of 2852.10.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC BANK 1600 CE SELL 22.50 CMP 28.50 15.50 OI INCREASE
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GAIL.23.03 Mar 111.2 1.97 1.06 67032900 POLYCAB.23.03 Mar 2907.55 -4.97 9.12 1202400
DIXON.23.03 Mar 2882.85 1.74 4.27 677875 INTELLECT.23.03 Mar 430.75 -3.72 1.24 4261000
ZYDUSLIFE.23.03 Mar 476.1 1.08 0.77 6852600 RBLBANK.23.03 Mar 155.15 -3.27 6.55 29030000
GODREJCP.23.03 Mar 918.5 1.05 2.35 5088000 PEL.23.03 Mar 747.3 -3.01 2.4 7712650
SHREECEM.23.03 Mar 25839.05 1.04 0.23 376525 M&MFIN.23.03 Mar 243.35 -2.97 1.23 25276000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BALKRISIND.23.03 Mar 2032.8 2 -0.26 1713300 DELTACORP.23.03 Mar 195.8 -3.85 -2.11 14949200
HINDPETRO.23.03 Mar 230.15 1.23 -3.55 23271300 CANBK.23.03 Mar 299.4 -3.75 -4.1 37019700
GMRINFRA.23.03 Mar 39.6 1.02 -1 116145000 INDIAMART.23.03 Mar 4737.3 -3.54 -4.6 292500
PAGEIND.23.03 Mar 37203.25 0.99 -1.33 131550 METROPOLIS.23.03 Mar 1242.15 -2.83 -0.74 913600
INDIGO.23.03 Mar 1894.9 0.96 -4.41 3423900 INDIACEM.23.03 Mar 196.25 -2.65 -0.49 14766800


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1471.55 Nifty50 17412.9 -1 25263754
Wipro Ltd 389.1 Niftybank 40485.45 -1.87 10831812
Reliance Industries Ltd 2322.7 Nifty it 29545.5 -0.66 639636
Zee Entertain. 193.6 India Vix 13.41 5.42 330056054
Larsen & Toubro Limited 2157.85 Nifty Fmcg 45334.75 0.16 266770
Acc Limited 1846.9 Nifty Pharma 11683.95 -0.14 37702283
Itc Ltd. 388 Nifty Realty 398.15 -1.03 1102573782
Hcl Technologies Ltd. 1116.3 Nifty Auto 12741.6 -0.31 34529662
Hindustan Unilever Ltd 2465.45 Nifty Metal 5635.7 -0.83 78227648
Tata Steel Limited 108.1 Nifty Financial Services 17927.75 -1.8 4838256


   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Feb) 13th March, 2023

INR: WPI Inflation (YoY) (Feb) 13th March, 2023

 USD: Core CPI (MoM) (Feb) on 14th March, 2023

USD: CPI (YoY) (Feb) on 14th March, 2023


  • Benchmark indices ended lower for the second consecutive session on March 10 with Nifty around 17,400. At Close, the Sensex was down 671.15 points or 1.12% at 59,135.13, and the Nifty was down 176.70 points or 1% at 17,412.90. About 1404 shares advanced, 2021 shares declined, and 102 shares unchanged.

  • The Reserve Bank of India on March 10, 2023, said it has cancelled the Certificate of Registration (CoR) of 17 Non-Banking Financial Companies (NBFCs).

  • The board of Hindustan Unilever Ltd (HUL) on March 10 approved the appointment of Rohit Jawa, a senior official of the UK-based parent entity Unilever, as its next managing director and chief executive officer.

  • Global Surface Ltd’s initial public offering will open on March 13 for subscription and close on March 15. The price band for the IPO has been set at Rs 133-140 a share, and anchor bids will start from March 10.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AGIIL Interim Dividend 13-Mar-23 SUNGOLD General 14-Mar-23
DATAPATTNS General 13-Mar-23 XPROINDIA General 14-Mar-23
GAIL Interim Dividend;General 13-Mar-23 GOBLIN Preferential Issue of shares;General;Increase in Authorised Capital 15-Mar-23
GOLDLEG General 13-Mar-23 JMJFIN General 15-Mar-23
KAMAHOLD Interim Dividend 13-Mar-23 LYKALABS Preferential Issue of shares;General;Issue Of Warrants 15-Mar-23
KREONFIN General 13-Mar-23 MIDHANI Interim Dividend 15-Mar-23
NATIONALUM Interim Dividend;General 13-Mar-23 RLF General 15-Mar-23
SHRADDHA Right Issue of Equity Shares 13-Mar-23 SERA Stock  Split;General 15-Mar-23
SUNTV Interim Dividend 13-Mar-23 GLS Interim Dividend 16-Mar-23
TOYAMSL General 13-Mar-23 KMSMEDI General 16-Mar-23
APOLLOPIPES General 14-Mar-23 RADHIKAJWE Stock  Split 16-Mar-23
ATHENAGLO Issue Of Warrants 14-Mar-23 SAMRATPH General 16-Mar-23
HARDWYN General 14-Mar-23 SPRAYKING Bonus issue;General 16-Mar-23
HCKKVENTURE General;Increase in Authorised Capital 14-Mar-23 STYRENIX Interim Dividend 16-Mar-23
HUDCO Interim Dividend;General 14-Mar-23 BEL Interim Dividend 17-Mar-23
INDINFR General 14-Mar-23 FIBERWEB General 17-Mar-23
JAYATMA General 14-Mar-23 GAL Preferential Issue of shares;General;Issue Of Warrants 17-Mar-23
JAYIND General 14-Mar-23 RISHYRN General 17-Mar-23
MCLOUD Bonus issue 14-Mar-23 INDSOYA General 20-Mar-23
PODARPIGQ Interim Dividend 14-Mar-23 SYLPH Stock  Split;General 20-Mar-23
PRAXIS General 14-Mar-23 ADROITINFO A.G.M. 29-Mar-23
QGO General 14-Mar-23 COFORGE Audited Results;Interim Dividend 27-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASTRAL 14-Mar-23 Bonus issue 1:3 UJJIVAN 20-Mar-23 Interim Dividend
JUMBO 14-Mar-23 E.G.M. AGIIL 21-Mar-23 Interim Dividend
ALLCARGO 15-Mar-23 Interim Dividend – Rs. – 3.2500 GAIL 21-Mar-23 Interim Dividend
CGPOWER 15-Mar-23 Interim Dividend – Rs. – 1.5000 HUDCO 21-Mar-23 Interim Dividend
DRONACHRYA 15-Mar-23 E.G.M. KAMAHOLD 21-Mar-23 Interim Dividend
ENBETRD 15-Mar-23 E.G.M. KDDL 21-Mar-23 Interim Dividend – Rs. – 2.0000
MEDICO 16-Mar-23 Stock  Split From Rs.10/- to Rs.2/- NATIONALUM 21-Mar-23 Interim Dividend
SBILIFE 16-Mar-23 Interim Dividend – Rs. – 2.5000 PODARPIGQ 21-Mar-23 Interim Dividend
SHREESEC 16-Mar-23 Stock  Split From Rs.10/- to Rs.1/- STANCAP 21-Mar-23 E.G.M.
TAPARIA 16-Mar-23 Interim Dividend – Rs. – 77.5000 SUNTV 21-Mar-23 Interim Dividend
TINEAGRO 16-Mar-23 Reduction of Capital MIDHANI 23-Mar-23 Interim Dividend
BI 17-Mar-23 E.G.M. STYRENIX 24-Mar-23 Interim Dividend
CAPRIHANS 17-Mar-23 E.G.M. VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
HITECH 17-Mar-23 Stock  Split From Rs.10/- to Rs.1/- VKAL 24-Mar-23 E.G.M.
NETTLINX 17-Mar-23 Interim Dividend – Rs. – 0.4000 CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000
TCMLMTD 17-Mar-23 E.G.M. SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
VIVANTA 17-Mar-23 Stock  Split From Rs.10/- to Rs.1/- HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
CSL 20-Mar-23 Stock  Split From Rs.10/- to Rs.2/- NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
GLOBALCA 20-Mar-23 Bonus issue 1:1 VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
GLOBALCA 20-Mar-23 Stock  Split From Rs.10/- to Rs.1/- ABB 27-Apr-23 Dividend – Rs. – 5.5000
HAL 20-Mar-23 Interim Dividend KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
SRUSTEELS 20-Mar-23 Interim Dividend SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000

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