The NIFTY opened at 17707.55 with a gap up of 103 points. The index did not sustain at the higher levels and started drifting downwards from the opening tick. Prices have filled the gap and then found support there. The index recorded its intraday low at 17612.50 and saw a breakout on the upside. Prices have rallied sharply afterward. The index continued its upside momentum till the end and recorded its intraday high at 17754.50. The NIFTY finally closed at 17743.40 with a gain of 119.35 points or 0.68% up. The BANK, FINANCIAL, and REALTY outperformed today and closed with a gain of more than 1% followed by IT and FMCG. MEDIA and PHARMA underperformed today and ended with a loss. The short-term trend is up. Moreover, the index is developing a pattern of Bullish Head & Shoulder on the daily timeframe chart. The pattern will be confirmed when the index closes above 17800. If confirmed then the pattern target will come around 18800. The target may or may not reach but still, it suggests higher levels. The support is now visible around 17550 which is also the recent swing high while resistance may emerge around 17800.


The BANK NIFTY opened at 42469.95 with a gap up of 387 points. The index initially moved higher but soon faced resistance and started moving downside. Prices have recorded its intraday low at 42269.10 and then started a consolidation process. The index broke it on the upside and saw a sharp intraday rally. The intraday high was recorded at 42714.15 and prices then spent the rest of the day sideways. BANK NIFTY finally closed at 42641.85 with a gain of 559 points. PSU BANK has outperformed today, saw a sharp intraday rally, and closed with a gain of 2.61%. PVT BANK has also moved up today and closed with a gain of 1.10% Within the index, in terms of points, ICICI BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest. The index did not hit either level so the trade remained intact. Stay long with a modified stop at 42300 and a target at 43300. Support is now visible around 42000 which is also the recent swing low while resistance is visible around 43000.


GRASIM 1689.30 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1693.65 with a stop loss of 1677.60 and a target of 1717.80.
DIXON 2893.80 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2880.50 with a stop loss of 2917 and a target of 2809.50.


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
TATACONSUM.23.04 Apr 734 4.58 3.6 10414800 PIIND.23.04 Apr 3112.65 -2.55 7.79 1944000
L&TFH.23.04 Apr 90.3 3.14 7.97 73828252 DRREDDY.23.04 Apr 4805 -1.55 0.06 2538375
CANFINHOME.23.04 Apr 578 2.76 0.76 3346200 INDUSINDBK.23.04 Apr 1104.7 -1.19 15.65 20493900
PFC.23.04 Apr 161.05 2.71 0.51 56947000 SUNPHARMA.23.04 Apr 980.45 -1.11 2.68 18686500
ICICIBANK.23.04 Apr 905.85 2.02 2.74 63351400 CONCOR.23.04 Apr 603.85 -0.89 1.55 8752000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HDFCLIFE.23.04 Apr 547.15 6.27 -3.65 13981000 IPCALAB.23.04 Apr 825.85 -2.07 -4.89 1719250
PERSISTENT.23.04 Apr 4471 4.04 -1.53 1105825 LAURUSLABS.23.04 Apr 298 -1.93 -8.68 9663500
OFSS.23.04 Apr 3420 3.44 -9.16 222200 ZEEL.23.04 Apr 193.35 -1.63 -2.64 69873000
BSOFT.23.04 Apr 265.7 3.37 -6.8 6854000 PVR.23.04 Apr 1477.8 -1.56 -0.17 2190881
IDFCFIRSTB.23.04 Apr 58.4 3.36 -7.36 125805000 IDEA.23.04 Apr 6.4 -1.54 -13.49 372610000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Bharti Airtel Limited 760.25 -0.65 5271105 3405157 75.27 Nifty50 17743.4 0.68 99429
Cipla Ltd 903 -1.32 1784945 2568331 73.78 Niftybank 42635.75 1.23 99366
Hindustan Unilever Ltd 2499.75 0.07 1735797 883812 73.27 Nifty it 27013.65 0.71 99366
Atul Ltd. 6982.7 -0.16 19236 20577 72.38 India Vix 11.67 0.32 103587
Infosys Limited 1226.3 -0.09 8313774 6169479 70.98 Nifty Fmcg 46943.05 0.59 99366
Torrent Pharma Ltd. 1621.45 0.51 464104 309880 70.26 Nifty Pharma 12454.35 -0.73 99366
Maruti Suzuki India Ltd 8466.15 -1.08 543745 292617 68.99 Nifty Realty 428 1.06 99366
Dr. Reddys Lab Ltd 4806.1 -1.29 438166 227606 68.67 Nifty Auto 12893.35 -0.04 99363
Marico Limited 474.95 0.36 2043813 586926 68.51 Nifty Metal 5703.3 0.45 99363
Hdfc Ltd. 2787.55 1.02 2797335 1176595 68.42 Nifty Financial Services 18992.95 1.28 99360


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Mar) on 28th April, 2023

INR: Infrastructure Output (YoY) (Mar) on 28th April, 2023

 USD: New Home Sales (Mar) on 25th April, 2023

USD: CB Consumer Confidence (Apr) on 25th April, 2023


  • Benchmark indices settled the session near the day’s high, with Nifty around 17,750. The Sensex settled 401.04 points or 0.67 percent higher at 60,056.10, and the Nifty gained119.40 points or 0.68 percent at 17,743.40. About 1,847 shares advanced, 1,643 shares declined, and 159 shares were unchanged.


  • IndusInd Bank beat estimates on April 24 with a standalone net profit of Rs 2040.51 crore for the March quarter of 2022-23, up 49.88 percent over the last year’s figure of Rs 1361.37 crore. Brokerages had predicted a 43.3 percent on-year rise in bottomline. Net interest income of the lender came in at Rs 4669.46 crore, registering a rise of 17 percent year-on-year.


  • Rail Vikas Nigam (RVNL) delivered solid returns on April 24, the first day of the week, rising more than 13 percent to hit a record high of Rs 88. The stock has formed robust bullish candlestick pattern on the daily, weekly as well as monthly charts, with strong volumes.


  • Mankind Pharma, the first biggest IPO in terms of issue size, will be opening for subscription this week. This would be the second initial public offering in the current calendar year after Avalon Technologies.


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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ANANTRAJ Final Dividend;Audited Results 25-Apr-23 MAHINDCIE Quarterly Results 25-Apr-23
ASIANTILES Preferential Issue of shares 25-Apr-23 MAHLIFE Dividend;Audited Results 25-Apr-23
AUBANK Final Dividend;Audited Results 25-Apr-23 MFL Final Dividend;Audited Results 25-Apr-23
AXITA General;Audited Results;Quarterly Results 25-Apr-23 MHRIL Audited Results 25-Apr-23
BAJAJ-AUTO Final Dividend;Audited Results 25-Apr-23 MORARKFI A.G.M.;Final Dividend;Audited Results 25-Apr-23
BHARATWIRE Audited Results;Quarterly Results 25-Apr-23 NAM-INDIA Final Dividend;Audited Results 25-Apr-23
BLUECHIPT General 25-Apr-23 NATURAL Audited Results 25-Apr-23
CILSEC Quarterly Results 25-Apr-23 NESTLEIND Quarterly Results 25-Apr-23
DALBHARAT Final Dividend;Audited Results 25-Apr-23 PERSISTENT General 25-Apr-23
DBOL Dividend;Audited Results 25-Apr-23 RAHME Audited Results;Quarterly Results 25-Apr-23
EFCIL General;Preferential Issue of shares 25-Apr-23 RAJKSYN Audited Results 25-Apr-23
ELECON General;Final Dividend;Audited Results 25-Apr-23 RALLIS Final Dividend;Audited Results 25-Apr-23
GISOLUTION Quarterly Results 25-Apr-23 RSSOFTWARE Audited Results 25-Apr-23
HDFCAMC Dividend;Audited Results 25-Apr-23 SHEMAROO Audited Results 25-Apr-23
HUHTAMAKI Quarterly Results 25-Apr-23 TATACONSUM General;Final Dividend;Audited Results 25-Apr-23
INDINFR General 25-Apr-23 TATASTLLP Audited Results 25-Apr-23
LLOYDSME General;A.G.M.;Audited Results 25-Apr-23 VIVANZA General;Audited Results 25-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ACHYUT 25-Apr-23 Bonus issue 1:2 SPRAYKING 28-Apr-23 Bonus issue 2:3
GOYALALUM 25-Apr-23 Stock  Split From Rs.10/- to Rs.1/- ELANTAS 02-May-23 Dividend – Rs. – 5.0000
SACHEMT 26-Apr-23 E.G.M. STOVACQ 02-May-23 Final Dividend – Rs. – 47.0000
VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500 APOLLO 04-May-23 Stock  Split From Rs.10/- to Rs.1/-
ABB 27-Apr-23 Dividend – Rs. – 5.5000 CASTROLIND 04-May-23 Final Dividend – Rs. – 3.5000
HCLTECH 28-Apr-23 Interim Dividend – Rs. – 18.0000 CRISIL 04-May-23 Interim Dividend – Rs. – 7.0000
JOSTS 28-Apr-23 Stock  Split From Rs.5/- to Rs.2/- FRUTION 04-May-23 E.G.M.
JSL 28-Apr-23 Special Dividend – Rs. – 1.0000 PHYTO 04-May-23 E.G.M.
KSB 28-Apr-23 Final Dividend – Rs. – 15.0000 RKFORGE 09-May-23 Interim Dividend
RAJOOENG 28-Apr-23 E.G.M. MINDSPACE 10-May-23 Income Distribution RITES
SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000 APTUS 12-May-23 Interim Dividend
SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000 HDFCBANK 16-May-23 Final Dividend – Rs. – 19.0000
SERA 28-Apr-23 Stock  Split From Rs.10/- to Rs.2/- RCL 31-May-23 Stock  Split From Rs.10/- to Rs.1/-

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