The NIFTY opened at 17177.45 with a gap up of 70 points. The index could not sustain at the higher levels and started drifting downwards after the opening tick. Prices have recorded its intraday high at 17207.25, saw a down move of almost 100 points, and then started a process of consolidation. The consolidation continued till the end. The index recorded its intraday low at 17107.85 and finally closed at 17151.90 near its day’s lows with a gain of 44.40 points or 0.26% up. PHARMA outperformed today and closed with a gain of over 1% followed by AUTO, FMCG, and FINANCIAL MEDIA REALTY, and METAL underperformed today and closed with a loss. Back to back two narrow range days suggesting that the index is ready for a sharp move one way or the other. The market is now awaiting the outcome of the FED meeting which is scheduled for today. We will see its effect on Indian markets at tomorrow’s opening. The short-term trend is down. We have mentioned a narrow trading range with support around 16850 and resistance around 17200. This range remained intact and prices have been moving within this range for the past seven trading days.  As far as the index is trading within this range, we should prefer trading only on an intraday basis.


The BANK NIFTY opened at 40036 with a gap up of 169 points. The index could not sustain at the higher levels and started drifting downwards after recording its intraday high at 40085.60. Prices soon found support and then started a consolidation process. The index moved very narrowly afterward, recorded its intraday low at 39837.80, and finally closed at 39958.85 with a gain of 91 points. PSU and PVT BANK both indices have performed almost the same today, saw a sharp intraday rally and closed higher by 0.83% &0.38% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while HDFC BANK contributed the lowest. BANK NIFTY traded very narrow today and ended almost on a flat note with minor gains. After opening with a gap up, the index moved down first and then moved sideways. The intraday range was very narrow today as prices have moved within a range of just 248 points. The support is visible around 38500 while resistance is visible around 40000. The index has bounced up from the support zone, reached the resistance zone, and now respecting this level. The trend is still down. We should wait for a close beyond the 38500-40000 trading range. We should avoid taking carry-forward trade as far as the index is trading within these two levels and shift our focus to intraday trading only.


COLPAL 863.40 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 865.50 with a stop loss of 857.25 and a target of 883.50.
CUMMIINS IND 1612.60 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1607.90 with a stop loss of 1616.20 and a target of 1588.15.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CIPLA  880 CE BUY 7.05 CMP 4.20 14.20 REVERSAL
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BANDHANBNK.23.03 Mar 211.55 3.75 3.59 42768000 ABB.23.03 Mar 3308.95 -2.72 7.26 1541000
CANFINHOME.23.03 Mar 549.65 2.89 4.57 3545100 BHEL.23.03 Mar 74.2 -2.62 5.68 69016500
ALKEM.23.03 Mar 3217.45 2.8 4.48 471000 SAIL.23.03 Mar 84.4 -2.43 2.19 101616000
ICICIPRULI.23.03 Mar 429 2.59 1.8 16006500 BPCL.23.03 Mar 352.95 -1.82 1.34 13894200
LALPATHLAB.23.03 Mar 1834.5 2.56 4.19 870250 NATIONALUM.23.03 Mar 77.9 -1.64 0.23 45375000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HDFCLIFE.23.03 Mar 498.2 2.7 -0.02 22016500 DELTACORP.23.03 Mar 193.4 -1.75 -1.72 14425600
IDEA.23.03 Mar 6.55 2.34 -1.69 411600000 ADANIPORTS.23.03 Mar 658.45 -1.5 -0.2 34766250
IDFC.23.03 Mar 81.05 2.08 -0.56 155220000 HAL.23.03 Mar 2630.1 -1.43 -0.56 3061200
ABCAPITAL.23.03 Mar 156.7 2.08 -1.73 34052400 INDIAMART.23.03 Mar 5050 -1.38 -5.01 349950
BANKBARODA.23.03 Mar 167.05 2.08 -2.5 85819500 NTPC.23.03 Mar 174.9 -1.38 -3.49 64467000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1389.25 -0.1 8356487 6571749 76.98 Nifty50 17151.9 0.26 97518
Dr. Reddys Lab Ltd 4474.95 1.26 319777 299158 75.37 Niftybank 39999.05 0.26 97458
Colgate Palmolive (india 1504.5 0.57 114909 187363 72.9 Nifty it 28217.6 0.19 97458
Syngene 576.7 -0.33 159287 304109 71.49 India Vix 14.81 -1.81 103359
Mahindra & Mahindra Fina 230.45 0.39 12562286 4353395 70.96 Nifty Fmcg 45109.5 0.44 97458
Sun Pharma  Ltd 972.05 1.66 1626129 1194974 70.82 Nifty Pharma 11754.7 1.04 97458
Marico Limited 483.85 0.42 772546 475531 67.97 Nifty Realty 394.3 -0.1 97458
State Bank Of India 521.55 -0.06 11619538 19906339 67.51 Nifty Auto 12201.35 0.49 97455
Ltimindtree Limited 4649.75 -0.52 409812 222902 66.97 Nifty Metal 5492.35 -0.04 97455
Itc Ltd. 377.75 0.21 4774867 7748321 66.73 Nifty Financial Services 17863.45 0.32 97455


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Feb) 31st March, 2023

INR: Infrastructure Output (YoY) (Feb) 31st March, 2023

 USD: New Home Sales (Feb) on 23rd March, 2023

USD: Core Durable Goods Orders (MoM) (Feb) on 24th March, 2023


  • Benchmark indices ended higher in the volatile session on March 22. At close, the Sensex was up 139.91 points or 0.24% at 58,214.59, and the Nifty was up 44.40 points or 0.26% at 17,151.90. About 1993 shares advanced, 1421 shares declined, and 128 shares unchanged.

  • Sobha Ltd shares fell nearly 5 percent on March 22 after the real estate developer informed exchanges that the income tax department was carrying out a raid on its registered office and other premises.

  • Zomato’s new version of its ‘Gold’ loyalty programme is helping it win market share from rival Swiggy, according to a report by HSBC. It said that the market shares of Zomato and Swiggy are expected to diverge to 57 percent and 43 percent, respectively, in FY24.

  • India’s Adani Airports, part of billionaire Gautam Adani’s conglomerate, will bid for more airports in the country in its ambition to become the leading airport operator there, Chief Executive Arun Bansal said on Wednesday.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AARTECH General 23-Mar-23 STDSFAC General 24-Mar-23
ANDHRACEMT Preferential Issue of shares 23-Mar-23 SUNRETAIL Right Issue of Equity Shares;Increase in Authorised Capital 24-Mar-23
DIAMINESQ General 23-Mar-23 SVPHOUSING General 24-Mar-23
IGL Interim Dividend 23-Mar-23 VENTURA General 24-Mar-23
IONEXCHANG Scheme of Arrangement 23-Mar-23 VINTAGES General 24-Mar-23
KESARPE General 23-Mar-23 VIRPOLY General 24-Mar-23
METROBRAND General 23-Mar-23 WARDINMOBI General 24-Mar-23
PFC Interim Dividend 23-Mar-23 ESARIND General 25-Mar-23
RADHIKAJWE Stock  Split 23-Mar-23 INDOWIND General 25-Mar-23
RNBDENIMS General 23-Mar-23 SEJAL Audited Results 25-Mar-23
SATIN General 23-Mar-23 STERPOW General 25-Mar-23
SEPC Rights Issue 23-Mar-23 SURFUNC General 25-Mar-23
SKIFL General 23-Mar-23 USGTECH General 25-Mar-23
UNIAUTO General 23-Mar-23 CEINSYSTECH General 26-Mar-23
DECOMIC General 24-Mar-23 CANOPYFIN General 27-Mar-23
EMAMILTD Buy Back of Shares 24-Mar-23 CIGNITI General 27-Mar-23
GAMMONIND Quarterly Results 24-Mar-23 CONCORD General 27-Mar-23
MANAPPURAM General 24-Mar-23 HDFC General 27-Mar-23
OMEGAIN General 24-Mar-23 ISWL General 27-Mar-23
POWERGRID General 24-Mar-23 JSTL General 27-Mar-23
RAJTV General 24-Mar-23 MYSPAPE Quarterly Results 27-Mar-23
RVNL Interim Dividend 24-Mar-23 UNJHAFOR General 27-Mar-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
MIDHANI 23-Mar-23 Interim Dividend – Rs. – 1.6800 DWARKESH 31-Mar-23 Interim Dividend – Rs. – 2.0000
ABSLAMC 24-Mar-23 Interim Dividend – Rs. – 5.0000 GPIL 31-Mar-23 Buy Back of Shares
AJANTPHARM 24-Mar-23 Buy Back of Shares IGL 31-Mar-23 Interim Dividend
BEL 24-Mar-23 Interim Dividend – Rs. – 0.6000 PFC 31-Mar-23 Interim Dividend
GLS 24-Mar-23 Interim Dividend – Rs. – 21.0000 HCKKVENTURE 03-Apr-23 E.G.M.
GROWINGTON 24-Mar-23 Bonus issue 24:100 MKVENTURES 03-Apr-23 Right Issue of Equity Shares
SAIL 24-Mar-23 Interim Dividend – Rs. – 1.0000 TEAMLEASE 03-Apr-23 Buy Back of Shares
STYRENIX 24-Mar-23 Interim Dividend – Rs. – 80.0000 SKCIL 05-Apr-23 E.G.M.
SUNCLAYLTD 24-Mar-23 Scheme of Arrangement RVNL 06-Apr-23 Interim Dividend
VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/- SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
VKAL 24-Mar-23 E.G.M. MUTHOOTFIN 18-Apr-23 Interim Dividend
BCONCEPTS 29-Mar-23 Interim Dividend – Rs. – 0.5000 HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
BHARATAGRI 29-Mar-23 Stock  Split From Rs.10/- to Rs.1/- JETINFRA 21-Apr-23 Bonus issue 1:1
HINDZINC 29-Mar-23 Interim Dividend – Rs. – 26.0000 NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
MIRZAINT 29-Mar-23 Spin Off VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
SBICARD 29-Mar-23 Interim Dividend – Rs. – 2.5000 ABB 27-Apr-23 Dividend – Rs. – 5.5000
SYMPHONY 29-Mar-23 Buy Back of Shares HCLTECH 28-Apr-23 Interim Dividend
ANGELONE 31-Mar-23 Interim Dividend KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
AVANCE 31-Mar-23 Stock  Split From Rs.10/- to Rs.5/- SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000
CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000 SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000

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