The NIFTY opened at 19744.85 without much of a gap. The index initially moved up but soon found resistance and turned down. A sharp decline came that led prices towards 17950. The index found support there and started moving higher. Soon prices broke above early morning highs but could not sustain there longer and saw another leg of decline. The NIFTY recorded its intraday high at 19798.65 in the afternoon, its intraday low at 19657.50 towards the end, and finally closed at 19674.25 with a loss of 68.10 points or 0.34% down. All the sectoral indices moved in line with the NIFTY 50 index and closed in red except AUTO which ended with marginal gains. PHARMA led the bears today and ended with a loss of 1.55%. Resistance is visible around 20200 while support is visible around 19700. The index is now moving around the support levels.


The BANK NIFTY opened at 44707.35 with a gap up of 97 points. The index initially moved higher but soon drifted downwards. Prices have erased all the gains and then again turned around and moved higher. That volatile movement continued for the whole day. In this process, prices have recorded its intraday high at 44996.75, its intraday low at 44548.90, and finally closed at 44639.95 with a gain of just 19 points. PSU BANK has significantly outperformed, saw a sharp upside move, and closed with a gain of 3.51%. PVT BANK has underperformed, saw a mild down move, and ended with a loss of 0.09%. Within the index, in terms of points, INDUSIND BANK contributed the highest on the upside while HDFC BANK contributed the least. The short-term trend is sideways. A sharp decline seems to now finding support around 44600 while resistance is visible around 46200. On the weekly timeframe chart, the index has been consolidating for the past four months within a wide range of 43600-46300. The current week was a big bearish candle so it is possible that the next week may be narrow and choppy.


ASIAN PAINT 3274.85 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 3274.85 with a stop loss of 3208.50 and a target of 3413.50.
INDIGO 2355.55 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2355.55 with a stop loss of 2395.00 and a target of 2272.00.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GRANULES.23.09 Sep 337.8 4.29 3.07 10662000 DALBHARAT.23.09 Sep 2254.05 -0.9 1.32 1263000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CANBK.23.09 Sep 383.2 5.17 -4.65 43308000 NAUKRI.23.09 Sep 4293.35 -3.31 -4.75 1409700
BERGEPAINT.23.09 Sep 619.7 4.72 -8.02 10717080 ZYDUSLIFE.23.09 Sep 596.75 -3.14 -7.28 5391000
RECLTD.23.09 Sep 271.55 4.5 -4.68 46088000 GLENMARK.23.09 Sep 803.95 -3.13 -5 8466550
IDEA.23.09 Sep 11.35 4.13 -13.94 941520000 ALKEM.23.09 Sep 3549.3 -2.8 -4.13 755800
BANKBARODA.23.09 Sep 215.8 4.13 -9.25 85837050 ASTRAL.23.09 Sep 1836.85 -2.67 -4.56 3506318

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Torrent Pharma Ltd. 1850.4 -1.28 498682 318995 82.64 Nifty50 19674.25 -0.34 37252317
Alkem 3550.65 -2.77 267533 106263 72.52 Niftybank 44612.05 -0.03 16425079
Dabur India Ltd. 561.3 0.21 956641 1523608 70.86 Nifty it 32906.3 -0.04 924252
Pidilite Industries Ltd 2517.7 0.19 348380 188506 67.4 India Vix 10.66 -1.48 680145752
Sbi Cards And Payment Se 798.4 -0.2 2053947 912005 66.8 Nifty Fmcg 51608.5 -0.12 297351
Cummins India Limited 1725.35 -1.11 418784 376802 65.62 Nifty Pharma 15069.1 -1.55 48392888
Indigo 2355.55 -1.32 702509 458730 64.24 Nifty Realty 561.5 -0.66 1300258731
Hindustan Unilever Ltd 2482.45 0.37 1176741 1423652 64.02 Nifty Auto 16234.35 0.21 45225129
Marico Limited 573.9 -0.13 871842 461438 63.29 Nifty Metal 6761.8 -0.66 108218240
Syngene 771.45 -0.8 922159 884344 63.16 Nifty Financial Services 19732.95 -0.41 5861137

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 29th September, 2023

INR: Infrastructure Output (YoY) (Aug) on 29th September, 2023

USD: Building Permits on 26th September, 2023

USD: New Home Sales (Aug) on 26th September, 2023

News Updates

  • Indices extend losses to fourth session after volatile trade, Nifty ends below 19,700. The Sensex was down 221.09 points or 0.33 percent at 66,009.15, and the Nifty was down 68.00 points or 0.34 percent at 19,674.30. About 1747 shares advanced, 1779 shares declined, and 143 shares unchanged.

  • Shares of PNB Gilts hit 20 percent upper circuit on September 22 to hit Rs 81 per share on BSE in intra-day trade on the back of heavy volumes, as India’s inclusion in JPMorgan’s bond index is seen driving billion of dollars of inflows. The stock also breached its previous 52-week high of Rs 71.6 apiece touched on July 21, 2023.

  • The pharmaceutical sector is exhibiting strong bearish positions on September 22. Among individual stocks in the sector, short positions can be observed in Glenmark, Cipla, Alkem and Dr Reddy’s for the day.

  • Banking stocks in India remain the preferred pick for JP Morgan on expectation of strong earnings growth in the sector, said Sanjay Mookim, JP Morgan’s Head of Research. “In terms of combination of growth and value, banks look good in India,” said Mookimin in a panel interview with CNBC TV18.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ANKITMETAL General 25-Sep-23 CANFINHOME General 27-Sep-23
AVANCE General;Increase in Authorised Capital;Stock  Split 25-Sep-23 HDIL Quarterly Results 27-Sep-23
INFRAIND Audited Results 25-Sep-23 INFRAIND General 27-Sep-23
INTECCAP General 25-Sep-23 KAARYAFSL General 27-Sep-23
JYOTISTRUC General 25-Sep-23 KINGSINFR General 27-Sep-23
MADHUVEER Preferential Issue of shares 25-Sep-23 RITCO Employees Stock Option Plan;General;Issue Of Warrants 27-Sep-23
MANGIND General 25-Sep-23 LORDSHOTL General 28-Sep-23
POWERGRID General 25-Sep-23 DILIGENT A.G.M. 29-Sep-23
RATNAVEER Quarterly Results 25-Sep-23 VAICC A.G.M. 29-Sep-23
ROYALCU Issue Of Warrants;Preferential Issue of shares 25-Sep-23 AAPLUSTRAD A.G.M. 30-Sep-23
SFL General 25-Sep-23 INTETHR A.G.M. 30-Sep-23
SPANDANA General 25-Sep-23 GOODLUCK Issue Of Warrants 03-Oct-23
STAR Scheme of Arrangement 25-Sep-23 KRRAIL General 03-Oct-23
STARHFL General 25-Sep-23 HCLTECH Interim Dividend;Quarterly Results 12-Oct-23
STRLGUA General 25-Sep-23 HDFCAMC Quarterly Results 12-Oct-23
VEERHEALTH Bonus issue 25-Sep-23 INFY Interim Dividend;Audited Results 12-Oct-23
VPRPL Quarterly Results 25-Sep-23 KSOLVES Interim Dividend;Quarterly Results 15-Oct-23
WARDWIZFBL General 25-Sep-23 ZENSARTECH Quarterly Results 17-Oct-23
CORALAB General 26-Sep-23 PERSISTENT General;Quarterly Results 18-Oct-23
TAPARIA General 26-Sep-23 COFORGE Interim Dividend;Quarterly Results 19-Oct-23
VINNY Increase in Authorised Capital;Right Issue of Equity Shares 26-Sep-23 MPHASIS Quarterly Results 19-Oct-23
ZUARIIND General 26-Sep-23 ULTRACEMCO Quarterly Results 19-Oct-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BPLPHARMA 25-Sep-23 Final Dividend – Rs. – 0.7500 HPIL 29-Sep-23 Final Dividend – Rs. – 0.5000
INDXTRA 25-Sep-23 Stock  Split From Rs.10/- to Rs.1/- MAHSCOOTER 29-Sep-23 Interim Dividend – Rs. – 110.0000
INFRAIND 25-Sep-23 Resolution Plan -Suspension SINCLAIR 29-Sep-23 Buy Back of Shares
NATPEROX 25-Sep-23 Spin Off ACCELYA 06-Oct-23 Final Dividend – Rs. – 30.0000
TECHIN 25-Sep-23 E.G.M. SIGACHI 09-Oct-23 Stock  Split From Rs.10/- to Rs.1/-
SHRADHAIND 26-Sep-23 Stock  Split From Rs.10/- to Rs.5/- HCLTECH 20-Oct-23 Interim Dividend
SEMAC 27-Sep-23 Final Dividend – Rs. – 5.0000 SVRL 27-Oct-23 Bonus issue 1:1
WESTLEIRES 27-Sep-23 Dividend – Rs. – 0.1000 ASIANPAINT 03-Nov-23 Interim Dividend
BAJAJHLDNG 29-Sep-23 Interim Dividend – Rs. – 110.0000 PGHL 13-Nov-23 Final Dividend – Rs. – 50.0000
HAL 29-Sep-23 Stock  Split From Rs.10/- to Rs.5/- PGHH 17-Nov-23 Final Dividend – Rs. – 105.0000

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