The NIFTY opened at 20601.95 with a big gap up of 334 points. The Index Initially moved lower for the first five minutes of trading but soon found support and bounced up. Prices have recorded its intraday low at 20507.75 and moved higher. The index has seen a modest upside rally throughout the day and recorded its intraday high at 20702.65.The NIFTY finally closed at 20686.80 near its day’s high with a gain of 418.90 points or 2.07% up. All the sectoral indices have rallied and closed higher today except for MEDIA and PHARMA which ended with a loss. BANK, FINANCIAL & OIL GAS led the bulls and ended with a gain of over 3%. The short-term trend is up. The index again. recorded lifetime new highs at 20702.65. Lifetime new highs are almost always bullish. Support is visible around 20300 while there is no visible resistance as the index is moving in uncharted territory.


The BANK NIFTY opened at 44671.50 with a big gap up of 856 points. The index continued its early morning bullish momentum and saw a modest rally during the day. Prices first recorded its intraday low at 45484.20, then its intraday high at 46484.45, and finally closed at 46445.40 with a gain of 1630 points. PSU and PVT BANKs both indices have performed almost the same today, saw a sharp upside move, and closed with a gain of 3.85% & 3.54% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside followed by HDFC BANK. The trend is very strong on the upside. In the last seven trading days, prices have rallied over 2000 points and recorded lifetime new highs. Support is visible around 45500 while there is no visible resistance as prices are trading in uncharted territory.


IRCTC 720.85 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 723.05 with a stop loss of 716.80 and a target of 735.55.
ZEEL 255.90 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 254.50 with a stop loss of 258.00 and a target of 247.85.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RBL BANK  250 CE BUY 8.70 CMP 7.80 12.80 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDPETRO.23.12 Dec 378.5 8.94 6.54 43040700 ZEEL.23.12 Dec 257.4 -4.13 10.24 123228000
EICHERMOT.23.12 Dec 4183 7.1 25.39 3740975 LUPIN.23.12 Dec 1271 -2.66 6.02 9177450
ADANIPORTS.23.12 Dec 880.8 5.59 0.44 53140800 GLENMARK.23.12 Dec 786 -1.57 8.69 11665975
ABB.23.12 Dec 4660.95 5.45 5.3 1161500 LALPATHLAB.23.12 Dec 2719 -1.44 8.15 1023300
BPCL.23.12 Dec 464 5.42 9.36 30513600 JINDALSTEL.23.12 Dec 685.15 -1.35 2.74 25110000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AMBUJACEM.23.12 Dec 476.7 7.34 -0.27 54585000 DELTACORP.23.12 Dec 141.05 -3.88 -6.21 18225200
ADANIENT.23.12 Dec 2543.85 6.98 -1.13 11184600 ZYDUSLIFE.23.12 Dec 638.55 -0.95 -0.25 6049800
ACC.23.12 Dec 2033.7 6.49 -1.09 4938000 COFORGE.23.12 Dec 5709.2 -0.62 -0.12 1105950
SBIN.23.12 Dec 600.05 4.16 -3.36 103932000
RECLTD.23.12 Dec 391.45 3.87 -3.18 40954000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Max Financial Services l 1023.35 0.3 547378 879899 79.61 Nifty50 20686.8 2.07 80913
Godrej Cons Products Ltd 1041.75 1.59 979451 1213061 77.4 Niftybank 46431.4 3.61 71412
Cummins India Limited 1953.9 1.76 668617 246928 75.6 Nifty it 32665.55 0.21 71412
Power Grid Corporation o 212.9 1.28 27914088 15274754 73.72 India Vix 12.99 4.93 71631
Astral Limited 1991 0.63 584918 579338 73.28 Nifty Fmcg 54237.7 0.72 71412
Atul Ltd. 6747.05 1.43 42809 33539 72.62 Nifty Pharma 16228.4 -0.18 71412
Alkem 4613.15 -0.75 197993 188925 71.54 Nifty Realty 737.75 2.03 71412
Hdfc Bank Ltd. 1609.4 3.47 25331228 7816765 70.57 Nifty Auto 17687.25 1.13 71412
Dabur India Ltd. 547 1.08 2125643 1085706 68.53 Nifty Metal 7202.6 1.63 71412
Axis Bank Limited 1125.6 1.9 14043213 9853842 68.29 Nifty Financial Services 20862.9 3.23 71412

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 8th December, 2023

INR: Interest Rate Decision on 8th December, 2023

USD: Services PMI (Nov) on 5th December, 2023

USD: JOLTs Job Openings (Oct) on 5th December, 2023

News Updates

  • Benchmark indices ended at fresh record highs on December 4 with Nifty above 20,650. At close, the Sensex was up 1383.93 points or 2.05 percent at 68,865.12, and the Nifty was up 418.9 points or 2.07 percent at 20,686.80.

  • Bullish momentum gripped the Indian stock market on December 4, propelling benchmark indices to unprecedented levels. Nifty surged to touch record highs up 300 points. Nifty is now in overbought territory with Relative Strength Index (RSI) at 80 – highest level since July 2023.

  • Hyderabad-based Dhananjaya Ponukumati, 41, was one of the nearly 900 unitholders of PPFAS Mutual Fund who attended its annual unitholders’ meet at Birla Matushree Sabhaghar in south Mumbai on December 2. PPFAS is India’s 19th largest mutual fund (MF) firm with assets worth Rs 49,344 crore.

  • The Indian corporate bond market is set to double in six years, according to CRISIL Ratings. Currently, the size of the bond market is Rs 43 lakh crore in FY24 and it will grow to Rs 100-120 lakh crore by FY30, stated the rating agency. This will be driven by three factors on the supply side and one on the demand side.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AAPLUSTRAD General 05-Dec-23 BRAHMINFRA Quarterly Results 08-Dec-23
GANESHBE General 05-Dec-23 GICRE General 08-Dec-23
INNOVATIVE General 05-Dec-23 KEYFINSER Reduction of Capital 08-Dec-23
JPTRLES General 05-Dec-23 OBCL General 08-Dec-23
JTAPARIA General 05-Dec-23 RNAVAL General;Quarterly Results 08-Dec-23
MODULEX Quarterly Results 05-Dec-23 SMGOLD Right Issue of Equity Shares 08-Dec-23
SBC Bonus issue;General 05-Dec-23 VSL Right Issue of Equity Shares 08-Dec-23
SBLI General;Half Yearly Results 05-Dec-23 WARDINMOBI General 08-Dec-23
SHAH Issue Of Warrants;General;Preferential Issue of shares 05-Dec-23 BALKRISHNA General 09-Dec-23
HAZOOR General 06-Dec-23 EMMESSA Quarterly Results 09-Dec-23
MESCON Audited Results;A.G.M. 06-Dec-23 VICEROY General 11-Dec-23
MPL General 06-Dec-23 PODDAR Quarterly Results 12-Dec-23
RMCL General;Quarterly Results 06-Dec-23 TIHIL General 12-Dec-23
TANVI Employees Stock Option Plan;General;A.G.M. 06-Dec-23 GROWINGTON General;Stock  Split 13-Dec-23
DGL Half Yearly Results 07-Dec-23 AKSHAR Interim Dividend;Bonus issue;Buy Back of Shares 15-Dec-23
DOLPHINOFF Stock  Split 07-Dec-23 METALFORGE Quarterly Results 15-Dec-23
GATECH General;Right Issue of Equity Shares 07-Dec-23 STL Increase in Authorised Capital;Bonus issue 21-Dec-23
LANCER General 07-Dec-23 GUJARATPOLY General 22-Dec-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BOROLTD 05-Dec-23 Spin Off SAFARIND 12-Dec-23 Bonus issue 1:1
SCL 06-Dec-23 E.G.M. SIS 12-Dec-23 Buy Back of Shares
ASITCFIN 07-Dec-23 Right Issue of Equity Shares SONATSOFTW 12-Dec-23 Bonus issue 1:1
DHYAANI 07-Dec-23 Bonus issue 9:5 RCF 13-Dec-23 Final Dividend – Rs. – 3.7000
POOJAENT 08-Dec-23 Bonus issue 6:1 FORINTL 14-Dec-23 E.G.M.
STEELXIND 11-Dec-23 E.G.M. TPHQ 14-Dec-23 Stock  Split From Rs.10/- to Rs.1/-
SUDIN 11-Dec-23 Stock  Split From Rs.10/- to Rs.5/- FRANKLININD 21-Dec-23 E.G.M.
BPCL 12-Dec-23 Interim Dividend – Rs. – 21.0000 KLRFM 22-Dec-23 Dividend – Rs. – 2.0000
RHL 12-Dec-23 E.G.M. RAWEDGE 22-Dec-23 E.G.M.

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