The NIFTY opened at 20934.10 with a gap up of just 33 points. The index initially moved higher but soon found resistance after crossing a historic 21000 mark for the first time. Prices have seen a sharp decline in the middle of trading session and have come into negative territory. However, the index resumed moving higher and rallied for the last two hours of trading. The index recorded first its intraday high at 21006.10, then its intraday low at 20862.70, and finally closed at 20969.40 with a gain of 68.25 points or 0.33% up. The IT outperformed and closed with a gain of 1.31% followed by BANK and FINANCIAL which ended with nearly 1% gains. FMCG, PHARMA, and OIL GAS underperformed and closed with a loss of over half a percent. The short-term trend is up and there is no doubt about it as prices are making a bullish pattern of higher highs and higher lows. Support is visible around 20500 while there is no visible resistance as the index is moving in uncharted territory. We should look for buying only as far as prices are moving above 20500 support.


The BANK NIFTY opened at 46797.20 with a gap up of just 42 points. The index initially moved higher for about two hours and then saw a dip. That dip found support around the opening tick and the index bounced up from there. The index has seen a sharp rally afterward that continued till the end. Prices first recorded its intraday low at 46793.90 then its intraday high at 47303.65, and finally closed at 47283.75 with a gain of 444 points. PVT BANKS have outperformed, saw a sharp upside rally, and finally closed with a gain of 1.01%. PSU BANK also moved up, saw a mild upside move, and closed with a gain of 0.19%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while AU BANK contributed the lowest. The trend is very strong on the upside.  Support is now visible around 46300 while there is no visible resistance as prices are again trading in uncharted territory. We should look for buying only as far as prices are staying above 46300 support.


KOTAK BANK 1838.45 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1842.00 with a stop loss of 1812.50 and a target of 1949.00.
HEROMOTO CORP 3715.75 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 3704.15 with a stop loss of 3732.20 and a target of 3648.35.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
POLYCAB  5500 CE BUY 133.50 ABOVE 151 120 247 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GMRINFRA.23.12 Dec 69.4 11.58 52.33 213918750 MCX.23.12 Dec 3200.8 -4.1 3.57 2624800
RBLBANK.23.12 Dec 269.3 4.4 5.16 61752500 ESCORTS.23.12 Dec 3158.2 -3.6 2.2 2558050
RECLTD.23.12 Dec 407.8 2.79 1.62 39238000 ZYDUSLIFE.23.12 Dec 640.65 -3.27 1.32 6678900
HCLTECH.23.12 Dec 1372.6 2.67 2.95 12766600 GLENMARK.23.12 Dec 800.85 -2.99 2.67 12380100
JSWSTEEL.23.12 Dec 844.1 2.33 2.72 14613075 TORNTPHARM.23.12 Dec 2065.8 -2.34 0.74 1637000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIACEM.23.12 Dec 272.25 3.24 -9.35 21300500 BALRAMCHIN.23.12 Dec 393.7 -3.69 -15.35 11800000
ZEEL.23.12 Dec 279.9 2.68 -6.92 102774000 BHEL.23.12 Dec 177.8 -3.68 -2.03 90651750
CHOLAFIN.23.12 Dec 1170.85 2.58 -3.11 12036875 IEX.23.12 Dec 153.35 -3.43 -2.91 61147500
LICHSGFIN.23.12 Dec 535.05 2.46 -2.25 20900000 IDEA.23.12 Dec 12.95 -3 -0.2 1691760000
PERSISTENT.23.12 Dec 6465.1 2.42 -3.06 2269750 ASTRAL.23.12 Dec 1934.25 -2.51 -2.74 2973067

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Cholamandalam Investment 1166.65 2.59 2802274 1392784 74.97 Nifty50 20969.4 0.33 50594885
Srf Ltd. 2423.1 -0.78 316577 486333 74.66 Niftybank 47262 0.9 22498882
Godrej Cons Products Ltd 1021.55 0.24 563822 582632 74.58 Nifty it 33392.9 1.31 1283977
Britannia Ind Ltd. 4942.2 -1.47 282713 197983 73.85 India Vix 12.47 -1.58 840579063
Shriram Finance Limited 2031.6 -0.16 843673 558782 71.56 Nifty Fmcg 53636.35 -0.99 427955
Atul Ltd. 6748.7 -1.85 46485 92223 71.41 Nifty Pharma 16163.15 -0.8 65287011
Max Financial Services l 1035.8 0.38 389168 413908 69.55 Nifty Realty 738.7 0.53 1433078943
Hdfc Bank Ltd. 1653.2 1.4 16864019 6993493 68.39 Nifty Auto 17769.1 -0.55 59436486
Gujgasltd 440.3 -0.61 2098749 901348 67.49 Nifty Metal 7362.9 -0.09 143310314
United Spirits Limited 1045.25 -1.95 908224 550130 66.12 Nifty Financial Services 21213.85 0.91 5450476

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Nov) on 12th December, 2023

INR: Manufacturing Output (MoM) (Oct) on 12th December, 2023

USD: CPI (MoM) (Nov) on 12th December, 2023

USD: PPI (MoM) (Nov) on 13th December, 2023

News Updates

  • Indian benchmark indices ended higher in the volatile session on December 8 with Nifty around 20,950. At close, the Sensex was up 303.91 points or 0.44 percent at 69,825.60, and the Nifty was up 68.20 points or 0.33 percent at 20,969.40. About 1441 shares advanced, 1796 shares declined, and 73 shares unchanged.

  • Equity-oriented mutual funds recorded a 22 percent decline in funds flow in November, still witnessing the 33rd straight month of net inflows, according to data released by the Association of Mutual Funds of India (AMFI), the industry trade body for mutual funds. The segment recorded net investments of Rs 15,536.42 crore, which was 22.15 percent lower than Rs 19,957.17 crore recorded in October.

  • The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), on December 8, decided to leave the repo rate unchanged at 6.5 percent for the fifth time in a row. Experts say that this is good news for debt funds. As and when interest rates start to go down – which many experts say would begin in the middle of 2024- debt funds’ net asset value (NAV) would go up.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
9FFSL23 Quarterly Results 11-Dec-23 MAGNUM General 12-Dec-23
DYNAMICP General 11-Dec-23 PODDAR Quarterly Results 12-Dec-23
EASEMYTRIP Interim Dividend 11-Dec-23 SMLT Interim Dividend 12-Dec-23
ENBETRD General 11-Dec-23 STRGRENWO General 12-Dec-23
FEDFINA Quarterly Results 11-Dec-23 TIHIL General 12-Dec-23
KAMADGIRI General 11-Dec-23 UMIYA General 12-Dec-23
LASTMILE Issue Of Warrants;Preferential Issue of shares 11-Dec-23 VALENCIA Right Issue of Equity Shares;General 12-Dec-23
NMSRESRC General 11-Dec-23 CHPLIND General;Quarterly Results 13-Dec-23
POOJAENT General 11-Dec-23 GEE Quarterly Results 13-Dec-23
PRATIKSH General 11-Dec-23 GROWINGTON Stock  Split;General 13-Dec-23
SOMICONV General 11-Dec-23 MOTOGENFIN General 13-Dec-23
SPCAPIT General 11-Dec-23 PVVINFRA General 13-Dec-23
SPICEJET Preferential Issue of shares;Quarterly Results 11-Dec-23 JINDALSAW General 14-Dec-23
STDSFAC General 11-Dec-23 KARMAENG General 14-Dec-23
STML Issue Of Warrants;General 11-Dec-23 RITESHIN General 14-Dec-23
TDSL General 11-Dec-23 AKSHAR Bonus issue;Interim Dividend;Buy Back of Shares 15-Dec-23
TELESYS General 11-Dec-23 ANMOL General 15-Dec-23
VICEROY General 11-Dec-23 BMBMUMG General 15-Dec-23
ADANIPORTS General 12-Dec-23 GANDHAR Quarterly Results 15-Dec-23
HDIL Quarterly Results 12-Dec-23 METALFORGE Quarterly Results 15-Dec-23
HIMFIBP General 12-Dec-23 SANDUMA Bonus issue 18-Dec-23
KAUSHALYA General 12-Dec-23 FLAIR Quarterly Results 20-Dec-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
STEELXIND 11-Dec-23 E.G.M. ASITCFIN 15-Dec-23 Right Issue of Equity Shares
SUDIN 11-Dec-23 Stock  Split From Rs.10/- to Rs.5/- SOMANYCERA 15-Dec-23 Buy Back of Shares
BPCL 12-Dec-23 Interim Dividend – Rs. – 21.0000 IFL 18-Dec-23 Bonus issue 1:10
DHYAANI 12-Dec-23 Bonus issue 9:5 EASEMYTRIP 19-Dec-23 Interim Dividend
RHL 12-Dec-23 E.G.M. INDINFR 19-Dec-23 Income Distribution (InvIT)
SAFARIND 12-Dec-23 Bonus issue 1:1 PML 19-Dec-23 Bonus issue 2:1
SIS 12-Dec-23 Buy Back of Shares FRANKLININD 21-Dec-23 E.G.M.
SONATSOFTW 12-Dec-23 Bonus issue 1:1 CMBL 22-Dec-23 E.G.M.
RCF 13-Dec-23 Final Dividend – Rs. – 3.7000 GENNEX 22-Dec-23 E.G.M.
FORINTL 14-Dec-23 E.G.M. KLRFM 22-Dec-23 Dividend – Rs. – 2.0000
HINDZINC 14-Dec-23 Interim Dividend – Rs. – 6.0000 PGCRL 22-Dec-23 E.G.M.
TPHQ 14-Dec-23 Stock  Split From Rs.10/- to Rs.1/- RAWEDGE 22-Dec-23 E.G.M.

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