The NIFTY opened at 17772.05 with a gap up of just 18 points. The index recorded its intraday high almost at the opening tick and started drifting downwards. Prices found support in the afternoon and started a consolidation process. That consolidation eventually broke on the downside and the NIFTY again moved down with more pace. The decline continued till the end and the index recorded its intraday low at 17573.60. Prices have finally closed at 17589.60 near its day’s lows with a loss of 164.80 points or 0.93% down. All the sectoral indices have moved down today except METAL which ended with minor gains. The AUTO, FMCG, REALTY and IT led the bears today and ended with a loss of over 1%. We have a wide trading range of 500 points within these two support and resistance levels. Our view is this range should be intact for a couple of weeks. And we may see a consolidation process here. Since the range is wide enough, we should look for a trading opportunity on either side of the market. However, we should keep focusing on trading only on an intraday basis and avoid carry-forward trades.


The BANK NIFTY opened at 41532.65 with a gap down of 93 points. The index initially moved down and then found support to start a rally. The index recorded its intraday high at 41659 and then started drifting downwards. Prices have seen a sharp intraday decline for the rest of the day, recorded its intraday low at 41208.10 and finally closed at 41227.90 with a loss of 346 points. PSU and PVT BANK both indices have performed almost the same today, saw an intraday decline, and dosed lower by 1.13% &0.80% respectively. Within the index, in terms of points, AXIS BANK contributed the highest on the upside while ICICI BANK contributed the least. The index is holding its resistance around 41800 for the past three trading days and today closed lower after a sharp upside move from its support level around 39800. Prices have been moving within this 2000 point of the trading range for almost one and a half months and our view is this range should continue for next couple of weeks. For the time being, we should avoid taking carry-forward trade and shift our focus to intraday trading only.


ASIAN PAINT 2853.55 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 2860.50 with a stop loss of 2844.50 and a target of 2894.50.
M&M 1248.15 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1245.10 with a stop loss of 1264.20 and a target of 1216.10.


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
MANAPPURAM.23.03 Mar 117.3 2.62 8.4 37614000 ADANIENT.23.03 Mar 1948.3 -4.85 1.48 9969750
SBICARD.23.03 Mar 762.5 2.05 4.41 8656800 RBLBANK.23.03 Mar 160.35 -3.58 7.55 27265000
DELTACORP.23.03 Mar 203.7 1.52 1.45 15828400 BALKRISIND.23.03 Mar 1990 -3.33 5.38 1739700
SHRIRAMFIN.23.03 Mar 1295.55 1.48 10.05 4452600 M&M.23.03 Mar 1251.8 -3.16 5.12 14270900
RECLTD.23.03 Mar 126.7 1.28 4.51 53056000 DIXON.23.03 Mar 2844 -3.07 2.04 651750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATASTEEL.23.03 Mar 108.4 1.4 -1.04 231335500 INTELLECT.23.03 Mar 446.25 -2.26 -0.17 4215000
HINDPETRO.23.03 Mar 227.35 1.13 -0.38 24748200 AMBUJACEM.23.03 Mar 385.7 -2.18 -0.93 63160200
GUJGASLTD.23.03 Mar 514.6 0.89 -2.26 5240000 ADANIPORTS.23.03 Mar 700.4 -1.93 -0.54 40144375
TORNTPOWER.23.03 Mar 535 0.5 -1.45 3454500 GAIL.23.03 Mar 109.25 -1.67 -0.34 66987150
ALKEM.23.03 Mar 3167 0.47 -1.02 484400 GMRINFRA.23.03 Mar 39.1 -1.64 -1.2 118102500


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1480.4 Nifty50 17589.6 -0.93 87693
Wipro Ltd 390.1 Niftybank 41256.75 -0.77 87693
Reliance Industries Ltd 2359.25 Nifty it 29742.35 -1.08 87693
Zee Entertain. 193.8 India Vix 12.72 2.21 87693
Larsen & Toubro Limited 2193.2 Nifty Fmcg 45260.45 -1.01 87693
Acc Limited 1860.1 Nifty Pharma 11700.4 -0.42 87693
Itc Ltd. 387.5 Nifty Realty 402.3 -1.17 87693
Hcl Technologies Ltd. 1116.65 Nifty Auto 12781.2 -1.83 87693
Hindustan Unilever Ltd 2461.4 Nifty Metal 5682.75 0.06 87693
Tata Steel Limited 108.2 Nifty Financial Services 18255.5 -0.75 87693


   Domestic                                                                                                                                                  International
INR: Manufacturing Output (MoM) (Jan)10th March, 2023

INR: Industrial Production (YoY) (Jan) 10th March, 2023

 USD: Non Farm Payrolls (FEB) on 10th March, 2023

USD: Unemployment Rate (FEB) on 10th March, 2023


  • The Indian equity benchmarks snapped a three-day winning streak to end lower on March 9, dragged down by auto, information technology, FMCG, realty and financials. At close, the Sensex was down 541.81 points, or 0.90 percent, at 59,806.28, and the Nifty was down 164.80 points, or 0.93 percent, at 17,589.60.

  • Pharmaceutical company SeQuent Scientific on Wednesday announced that it has called off the acquisition bid for Tineta Pharma. The company had announced last November that it had entered into a share purchase agreement to acquire a 100 percent stake in Tineta from its promoters.

  • Home First Finance shares fell 9.1 percent after a block deal of 6.87 million shares or 7.8 percent of equity. The fall is the steepest intraday fall since November 2021.

  • Indian metal stocks may have underperformed most global peers in 2023, so far, but that may be the very reason to be optimistic. Foreign brokerage Jefferies sees the underperformance as a buying opportunity.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AJANTPHARM Buy Back of Shares 10-Mar-23 KAMAHOLD Interim Dividend 13-Mar-23
ASHRAM General 10-Mar-23 KREONFIN General 13-Mar-23
DCAL General 10-Mar-23 NATIONALUM Interim Dividend;General 13-Mar-23
EKENNIS General 10-Mar-23 SHRADDHA Right Issue of Equity Shares 13-Mar-23
GAMMONIND Quarterly Results 10-Mar-23 SUNTV Interim Dividend 13-Mar-23
HAL Interim Dividend 10-Mar-23 TOYAMSL General 13-Mar-23
KAMOPAINTS Preferential Issue of shares;General;Issue Of Warrants 10-Mar-23 HCKKVENTURE General;Increase in Authorised Capital 14-Mar-23
KPT General 10-Mar-23 HUDCO Interim Dividend 14-Mar-23
OISL Audited Results;General 10-Mar-23 JAYATMA General 14-Mar-23
ORIENTTR General 10-Mar-23 JAYIND General 14-Mar-23
ROSEMER General 10-Mar-23 PODARPIGQ Interim Dividend 14-Mar-23
SHARPLINE Preferential Issue of shares;Increase in Authorised Capital 10-Mar-23 QGO General 14-Mar-23
SPANDANA General 10-Mar-23 SUNGOLD General 14-Mar-23
SRUSTEELS Bonus issue;Interim Dividend;Increase in Authorised Capital 10-Mar-23 XPROINDIA General 14-Mar-23
TATIAGLOB General 10-Mar-23 LYKALABS Preferential Issue of shares;General;Issue Of Warrants 15-Mar-23
UJJIVAN Interim Dividend 10-Mar-23 MIDHANI Interim Dividend 15-Mar-23
VEERHEALTH Preferential Issue of shares 10-Mar-23 RLF General 15-Mar-23
AFFORDABLE General 11-Mar-23 KMSMEDI General 16-Mar-23
KHAITANLTD Quarterly Results 11-Mar-23 RADHIKAJWE Stock  Split 16-Mar-23
MARG Quarterly Results 11-Mar-23 SAMRATPH General 16-Mar-23
NATURAL General 11-Mar-23 BEL Interim Dividend 17-Mar-23
THINKINK Issue Of Warrants 11-Mar-23 RISHYRN General 17-Mar-23
AGIIL Interim Dividend 13-Mar-23 SYLPH Stock  Split;General 20-Mar-23
DATAPATTNS General 13-Mar-23 SERA Stock  Split;General 22-Mar-23
GAIL Interim Dividend;General 13-Mar-23 ADROITINFO A.G.M. 29-Mar-23
GOLDLEG General 13-Mar-23 COFORGE Audited Results;Interim Dividend 27-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
KPEL 10-Mar-23 Stock  Split From Rs.10/- to Rs.5/- GLOBALCA 20-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
RHETAN 10-Mar-23 Bonus issue 11:4 HAL 20-Mar-23 Interim Dividend
RHETAN 10-Mar-23 Stock  Split From Rs.10/- to Rs.1/- SRUSTEELS 20-Mar-23 Interim Dividend
ASTRAL 14-Mar-23 Bonus issue 1:3 UJJIVAN 20-Mar-23 Interim Dividend
JUMBO 14-Mar-23 E.G.M. AGIIL 21-Mar-23 Interim Dividend
ALLCARGO 15-Mar-23 Interim Dividend – Rs. – 3.2500 GAIL 21-Mar-23 Interim Dividend
CGPOWER 15-Mar-23 Interim Dividend – Rs. – 1.5000 HUDCO 21-Mar-23 Interim Dividend
DRONACHRYA 15-Mar-23 E.G.M. KAMAHOLD 21-Mar-23 Interim Dividend
ENBETRD 15-Mar-23 E.G.M. NATIONALUM 21-Mar-23 Interim Dividend
MEDICO 16-Mar-23 Stock  Split From Rs.10/- to Rs.2/- STANCAP 21-Mar-23 E.G.M.
SBILIFE 16-Mar-23 Interim Dividend – Rs. – 2.5000 SUNTV 21-Mar-23 Interim Dividend
SHREESEC 16-Mar-23 Stock  Split From Rs.10/- to Rs.1/- MIDHANI 23-Mar-23 Interim Dividend
TAPARIA 16-Mar-23 Interim Dividend – Rs. – 77.5000 VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
BI 17-Mar-23 E.G.M. CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000
CAPRIHANS 17-Mar-23 E.G.M. SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
HITECH 17-Mar-23 Stock  Split From Rs.10/- to Rs.1/- HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
NETTLINX 17-Mar-23 Interim Dividend – Rs. – 0.4000 NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
TCMLMTD 17-Mar-23 E.G.M. VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
VIVANTA 17-Mar-23 Stock  Split From Rs.10/- to Rs.1/- ABB 27-Apr-23 Dividend – Rs. – 5.5000
CSL 20-Mar-23 Stock  Split From Rs.10/- to Rs.2/- KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
GLOBALCA 20-Mar-23 Bonus issue 1:1 SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000

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