The NIFTY opened at 21545.50 with a gap up of 92 points. The index continued its early morning bullish momentum and started moving higher but soon faced strong resistance just below 21600. Prices have started a consolidation process and eventually broke on the downside in the afternoon after recording its intraday high at 21593. The index then saw a sharp decline and gave up all the gains. The down move continued till the end and the NIFTY recorded its intraday low at 21087.35. The index finally closed at 21150.15 near its day’s low with a loss of 302.95 points or 1.41% down. All the sectoral indices have moved in line with the NIFTY and closed with a loss led by MEDIA which lost over 5%. METAL lost nearly 4% while AUTO and REALTY shed over 2%. Pattern, Set Up, and Signals The NIFTY took a U-Turn today and saw a sharp intraday decline. A gap-up opening did not sustain today. In the first half, prices moved sideways while, in the second half, saw a sharp down move.


The BANK NIFTY opened at 48085.35 with a big gap up of 237 points. The index initially moved higher but soon found resistance and turned down after recording its intraday high at 48166.15. A sharp decline came that lasted till the end. The index gave up all the gains and fall further to record its intraday low at 47202.65. Prices have finally closed at 47216.50 with a loss of 632 points. PSU BANKs have significantly underperformed, prices have seen a sharp intraday decline, and finally ended with a loss of 4.04%. PVT BANKs have also moved down and ended with a loss of 1.04%. The intraday range was very wide as prices have traveled within a range of almost 1000 points. The short-term trend is sideways now as the index broke down and closed below its short-term support around 47500. A very strong support is visible around 46300 while the lifetime highs recorded around 48200 should now act as a resistance. The index is now going through a process of consolidation or correction. It is normal after a sustained move. We should wait for prices to find support first. Till then avoid trading the.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
VOLTAS.23.12 Dec 930 3.2 7.6 10605600 IBULHSGFIN.23.12 Dec 206.05 -10.1 5.09 56120400
AUBANK.23.12 Dec 753.7 2.62 2.95 13396000 INDIACEM.23.12 Dec 247.95 -7.89 5.25 20131800
ONGC.23.12 Dec 204.35 1.74 2.25 52729600 IEX.23.12 Dec 143.3 -7.28 0.82 58560000
TATACONSUM.23.12 Dec 981 1.24 4.16 7261200 ZEEL.23.12 Dec 254 -7.18 0.01 87687000
BRITANNIA.23.12 Dec 4930 0.38 4.85 1821800 BHEL.23.12 Dec 172 -7.08 0.82 86577750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
OBEROIRLTY.23.05 May 987.75 4.57 -0.52 6404300 INDUSTOWER.23.12 Dec -9.02 179.5 -1.8 71461200
PFC.23.05 May 171.7 3.81 -1.74 66234600 PEL.23.12 Dec -8.29 886 -3.35 12410250
RBLBANK.23.05 May 153.1 3.38 -2.48 38415000 IRCTC.23.12 Dec -7.91 815.5 -10.03 13775125
BANDHANBNK.23.05 May 245.25 3.13 -4.11 44433000 NATIONALUM.23.12 Dec -7.89 103.9 -4.27 63727500
HEROMOTOCO.23.05 May 2694.95 3.12 -4.86 4304700 RECLTD.23.12 Dec -7.58 404 -3.32 35698000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Ultratech Cement Limited 9887.45 -1.29 501448 587213 86.97 Nifty50 21150.15 -1.41 71448
Shriram Finance Limited 1998.75 -2.95 1887125 1647257 74.4 Niftybank 47445.3 -0.89 71448
Pidilite Industries Ltd 2584.2 -2.44 597860 284681 73.03 Nifty it 34741.05 -1.71 72903
Crompton Greaves Consume 297.15 0.35 7071090 3210605 72.68 India Vix 14.45 4.18 71571
Maruti Suzuki India Ltd 10081.25 -1.49 964045 425026 72.56 Nifty Fmcg 54597.9 -0.33 71448
Cholamandalam Investment 1239.15 -0.84 2525322 1405368 72.41 Nifty Pharma 16121.25 -1.65 71448
United Breweries Limited 1683.55 -0.79 542638 171476 72.32 Nifty Realty 737.3 -2.43 71448
Bharti Airtel Limited 971.55 -1.71 3990591 2784475 71.16 Nifty Auto 17523.55 -2.28 71448
Cummins India Limited 1908.65 -3.44 821439 354546 69.94 Nifty Metal 7421.55 -3.82 71448
Hdfc Life Insurance Comp 644.1 -3.3 3772649 2646207 69.73 Nifty Financial Services 21201.25 -1.09 71448

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: Current Account % of GDP (QoQ) (Q3) on 29th December, 2023

INR: Current Account (USD) (Q3) on 29th December, 2023

USD: GDP (QoQ) (Q3) on 21st December, 2023

USD: Philadelphia Fed Manufacturing Index (Dec) on 21st December, 2023

News Updates

  • Benchmark indices of India saw a sharp sell-off in the last two hours of the session after they had hit new lifetime highs at open. Today’s fall in the Nifty 50 was the sharpest in the last 10 months. The Sensex fell the most since October 26. With the benchmarks, all sectoral and broader market indices on both the exchanges ended lower. The Nifty 50 ended 302.95 points or 1.41% lower at 21,150.

  • India Shelter Finance had a decent market debut, listing at a 25.7 percent premium to the IPO price of Rs 493 on December 20. The stock opened at Rs 620 on the NSE and Rs 612.70 on the BSE. The Rs 1,200 crore public offer consisted of a fresh issue of 1.62 crore shares worth Rs 800 crore and an offer-for-sale of 81.13 lakh shares worth Rs 400 crore. The price band for the issue was fixed at Rs 469-493 per share.

  • Private equity firm Blackstone Group exited India’s first real estate investment trust Embassy Office Parks REIT on December 20 in the second-biggest block trade of FY24. Despite the exit of the company’s major sponsor, brokerages stay in upbeat on Embassy REIT due to strong growth prospects, improvement in leasing trends, better occupancy and new developments.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ACLGATI General 21-Dec-23 YOGI Increase in Authorised Capital;Issue Of Warrants;General 22-Dec-23
ARNOLD Buy Back of Shares 21-Dec-23 BIZOTIC General 23-Dec-23
DECCAN General 21-Dec-23 GEE Quarterly Results 23-Dec-23
GALACTICO Preferential Issue of shares 21-Dec-23 GOWRALE General 23-Dec-23
KPIGREEN General 21-Dec-23 KBCGLOBAL Quarterly Results;General 23-Dec-23
MODISONLTD General 21-Dec-23 NDMETAL General 23-Dec-23
ORIRAIL General 21-Dec-23 ORISSAMINE General 23-Dec-23
SBFC General 21-Dec-23 SSLFINANCE Issue Of Warrants 23-Dec-23
SECURCRED General 21-Dec-23 VSL General 23-Dec-23
SOFCOM General 21-Dec-23 KALYANI Half Yearly Results 25-Dec-23
STL Increase in Authorised Capital;Bonus issue 21-Dec-23 LORDSHOTL General 25-Dec-23
STRATMONT Preferential Issue of shares 21-Dec-23 SANJIVIN Issue Of Warrants;Preferential Issue of shares 25-Dec-23
TIJARIA General 21-Dec-23 ABHICAP General 26-Dec-23
UNITECH Quarterly Results 21-Dec-23 AMIC Half Yearly Results 26-Dec-23
AAVAS General 22-Dec-23 DYNAMICP General 26-Dec-23
ACEMEN General 22-Dec-23 JAMESWARREN General 26-Dec-23
AKSHAR Interim Dividend;Bonus issue;Buy Back of Shares 22-Dec-23 JLL General 26-Dec-23
ARMANFIN General 22-Dec-23 SAICOM General 26-Dec-23
GUJARATPOLY General 22-Dec-23 TANAA Preferential Issue of shares 26-Dec-23
HAWKINCOOK General 22-Dec-23 ALFREDHE General 27-Dec-23
NITINFIRE Quarterly Results 22-Dec-23 GVFILM Issue Of Warrants 27-Dec-23
SINCLAIR Bonus issue 22-Dec-23 SOUTHBANK General 27-Dec-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
FRANKLININD 21-Dec-23 E.G.M. RSYSTEMINT 22-Dec-23 Interim Dividend – Rs. – 6.8000
ALPHALOGIC 22-Dec-23 Bonus issue 1:3 SMAUTO 22-Dec-23 Buy Back of Shares
AXITA 22-Dec-23 Bonus issue 1:3 SMLT 22-Dec-23 Interim Dividend – Rs. – 1.0000
CMBL 22-Dec-23 E.G.M. NMSRESRC 27-Dec-23 E.G.M.
GENNEX 22-Dec-23 E.G.M. VEDL 27-Dec-23 Interim Dividend – Rs. – 11.0000
KLRFM 22-Dec-23 Dividend – Rs. – 2.0000 CMMHOSP 28-Dec-23 E.G.M.
PGCRL 22-Dec-23 E.G.M. PIFL 28-Dec-23 E.G.M.
RAWEDGE 22-Dec-23 E.G.M. CANFINHOME 29-Dec-23 Interim Dividend

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