The NIFTY opened at 17591.35 with a gap up of 80 points. The index could not sustain at the higher levels and started drifting downwards after the opening tick. Prices recorded its intraday high at 17599.75, saw a sharp decline, and filled the gap. The index started a consolidation process afterward which eventually broke on the downside. Prices have seen another leg of a down move, going below 17500, and recording its intraday low of 17421.80. The index finally closed at 17465.80 with a loss of 45.45 points or 0.26% down. All the sectoral indices have moved down except OIL GAS and PHARMA which closed with some gains. METAL led the bears today and ended 3% down followed by AUTO and REALTY. Buying opportunity may come if the index holds 17500 support in the next week. As of now, we should step aside and avoid trading the index as the chance of brief consolidation is higher.


The BANK NIFTY opened at 40259.10 with a gap up of 183 points. Prices initially moved higher but soon faced resistance and turned down after recording its intraday high at 40348.10. The decline continued for the whole day. The index recorded its intraday low at 39818.90 and finally closed at 39904.70 with a loss of 172 points.PSU BANK underperformed today, saw a sharp downside move, and closed lower by 0.88%. PVT BANK has also moved down and ended lower by 0.11%. Within the index, in terms of points, AXIS BANK contributed the highest on the upside while HDFC BANK contributed the least. After oneday of a relief rally, the index resumed its prevailing trend which is down, and is now trading very near to its support level of around 39500. Resistance is visible around 41000.The trend is down. However, after a recent fall, we are expecting some kind of consolidation. We will get a shorting opportunity on any rally of if the index closes below 39500. Buying may emerge if prices hold the support.


SAMVARDHAN MTHERSON 82.45 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought at 82.70 with a stop loss of 81.40 and a target of 86.45.
IRCTC 607.85 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 601.75 with a stop loss of 610 and a target of 588.35.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DR REDDY 4500 CE BUY 100.70 ABOVE 107 82 160 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SYNGENE.23.03 Mar 583.4 0.6 0.34 1490000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDUSTOWER.23.03 Mar 173.4 5.76 -76.21 1318800 IDEA.23.03 Mar 6.7 -4.96 -79.12 35350000
INDHOTEL.23.03 Mar 308.4 2.78 -89.01 842000 IBULHSGFIN.23.03 Mar 102.55 -4.38 -46.85 4824000
GAIL.23.03 Mar 98.2 2.61 -58.48 8088600 ZEEL.23.03 Mar 198.2 -3.88 -87.03 2640000
FEDERALBNK.23.03 Mar 127.6 1.84 -82.53 3655000 ASIANPAINT.23.03 Mar 2702.1 -3.25 -77.54 333600
HONAUT.23.03 Mar 36788.1 1.68 -80.3 975 IRCTC.23.03 Mar 599.8 -3.01 -65.18 1343125


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1550.7 Nifty50 17511.25 -0.25 25661541
Wipro Ltd 393.95 Niftybank 40001.55 0.01 11252294
Reliance Industries Ltd 2367.5 Nifty it 30598.35 -0.03 846936
Zee Entertain. 198.65 India Vix 15.08 -3.27 291815911
Larsen & Toubro Limited 2159.15 Nifty Fmcg 45530.1 0.26 407179
Acc Limited 1727.55 Nifty Pharma 11968.2 -0.2 37559661
Itc Ltd. 387.6 Nifty Realty 382.5 -1.78 1167021724
Hcl Technologies Ltd. 1094.35 Nifty Auto 12982.25 -0.06 34645538
Hindustan Unilever Ltd 2490.65 Nifty Metal 5611.8 0.35 80089141
Tata Steel Limited 112.05 Nifty Financial Services 17912.1 -0.16 4343342


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Jan) 28th February, 2023

INR: GDP Quarterly (YoY) (Q3) 28th February, 2023

 USD: Pending Home Sales (MoM) (Jan) on 27th  February, 2023

USD: Core Durable Goods Orders (MoM) (Jan) on 27th February, 2023


  • Benchmark indices ended lower in the volatile session on February 24 with Nifty below 17,500. At Close, the Sensex was down 141.87 points or 0.24% at 59,463.93, and the Nifty was down 45.50 points or 0.26% at 17,465.80. About 1483 shares have advanced, 1877 shares declined, and 157 shares are unchanged.

  • Airline operator Spicejet on February 24 reported 160 percent jump in its consolidated net profit at Rs 110 crore for the quarter ended December 2022. Its net profit stood at Rs 42 crore in the year-ago period.

  • The National Company Law Appellate Tribunal (NCLAT) granted interim relief to Zee Entertainment Enterprises Ltd (ZEEL) on February 24 and stayed the order directing the initiation of insolvency proceedings against the media and entertainment firm.

  • Ashok Leyland Will direct investments more on alternative fuel vehicles, Shenu Agarwal, MD & CEO, says the company’s plan is to accelerate product development and roll them out within 2023. He says Ashok Leyland has been contemplating a foray into the sub-two-tonne segment for some time now.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ARHNTTO Preferential Issue of shares 27-Feb-23 STHINPA Preferential Issue of shares 28-Feb-23
FOSECOIND Audited Results;Final Dividend;General 27-Feb-23 STOVACQ Audited Results;Final Dividend 28-Feb-23
INDAGIV General;Quarterly Results 27-Feb-23 UNITECH Audited Results;Quarterly Results 28-Feb-23
KOLTEPATIL General 27-Feb-23 VEDANTASSET General 28-Feb-23
MARICO Interim Dividend 27-Feb-23 AADHAARVEN Increase in Authorised Capital 01-Mar-23
NAVODAYENT Increase in Authorised Capital 27-Feb-23 BHARATAGRI Quarterly Results 01-Mar-23
OXYGENTAPH Increase in Authorised Capital;General;Preferential Issue of shares 27-Feb-23 BLSINFOTE General 01-Mar-23
RAIN Audited Results 27-Feb-23 LEX General 01-Mar-23
STRLGUA General 27-Feb-23 VLSFINANCE* General 01-Mar-23
VESUVIUS Audited Results;Final Dividend 27-Feb-23 DECNGOLD General 02-Mar-23
ADROITINFO Employees Stock Option Plan;Increase in Authorised Capital 28-Feb-23 SWORDEDGE General 02-Mar-23
INDLEASE General 28-Feb-23 URJAGLOBA General 03-Mar-23
MUTHTFN General 28-Feb-23 IFL Bonus issue;General;Stock  Split 09-Mar-23
RAJKOTINV Increase in Authorised Capital;General;Preferential Issue of shares 28-Feb-23 QGO General 14-Mar-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SHAREINDIA 28-Feb-23 Right Issue of Equity Shares with Warrants MARICO 08-Mar-23 Interim Dividend
SPAR 28-Feb-23 Right Issue of Equity Shares TRIVIKRAMA 08-Mar-23 E.G.M.
MASTERTR 01-Mar-23 E.G.M. KPEL 10-Mar-23 Stock  Split From Rs.10/- to Rs.5/-
UJJIVANSFB 01-Mar-23 Interim Dividend – Rs. – 0.7500 RHETAN 10-Mar-23 Bonus issue 11:4
360ONE 02-Mar-23 Bonus issue 1:1 RHETAN 10-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
360ONE 02-Mar-23 Stock  Split From Rs.2/- to Rs.1/- ASTRAL 14-Mar-23 Bonus issue 1:3
HINDBIO 03-Mar-23 Reduction of Capital ENBETRD 15-Mar-23 E.G.M.
KSOLVES 03-Mar-23 Interim Dividend – Rs. – 3.0000 CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000
RESPONIND 03-Mar-23 E.G.M. SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
TMTIND-B1 03-Mar-23 E.G.M. HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
ZGOLDINV 03-Mar-23 E.G.M. NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
FRASER 06-Mar-23 E.G.M. ABB 27-Apr-23 Dividend – Rs. – 5.5000
HGS 06-Mar-23 Buy Back of Shares KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
HGS 06-Mar-23 Interim Dividend – Rs. – 2.5000 SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000
MPILCORPL 06-Mar-23 E.G.M. SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000

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