The NIFTY opened at 17060.40 with a gap up of 72 points. The index initially moved down, filling the gap but soon found support and started a consolidation process. Prices have recorded its intraday low at 17016 and saw a breakout in the afternoon. The index started moving higher and crossed above 17100 to record its intraday high at 17127.70. The NIFTY finally closed at 17107.50 near its day’s highs with a gain of 119.10 points or 0.70% up. BANK FINANCIAL, MEDIA, and OIL GAS outperformed today and closed with a gain of over 1% IT, FMCG, PHARMA, and REALTY underperformed today and closed with a loss. As mentioned yesterday, the market is now awaiting the outcome of the FED meeting which is scheduled for tomorrow and we will see its effect on Indian markets the next day which is also the weekly expiry day. 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 six trading days. As far as the index is trading within this range, we should prefer trading only on an intraday basis. For the time being, we should step aside from taking carry-forward trades.


The BANK NIFTY opened at 39599.65 with a gap up of 227 points. The index could not sustain there and initially moved lower. Prices soon found support and bounced up after recording its intraday low at 39366.30. The index first consolidated and then broke higher to rally towards 40000 marks. The index recorded its intraday high at 39970.90 and finally closed at 39867.50 with a gain of 495 points, PSU and PVT BANK both indices have performed almost the same , saw a sharp intraday rally and closed higher by 1.65% & 1.44% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while FEDERAL BANK contributed the lowest. BANK NIFTY moved very volatile. After a gap up opening, the momentum become weak in the morning but as the day progressed, the index rallied higher sharply. As mentioned, support is visible around 38500 while resistance is around 40000. The index has bounced up from the support zone and is now trading near the resistance level. The trend is still down. We should wait for a close beyond 38500-40000 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.


HDFC AMC 1764.20 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1770.35 with a stop loss of 1751.55 and a target of 1805.
GODREJ CP 943.60 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 940.95 with a stop loss of 947.65 and a target of 927.55.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HERO MOTO CORP  2400 CE BUY 16.45 ABOVE 17.25 12.90 28 REVERSAL
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIAMART.23.03 Mar 5123.4 4.43 25 390000 METROPOLIS.23.03 Mar 1244.8 -1.97 0.71 796400
CROMPTON.23.03 Mar 293.25 3.53 0.12 6205500 POWERGRID.23.03 Mar 224.15 -1.93 0.32 25987500
ABB.23.03 Mar 3408 3.47 4.94 1528250 MPHASIS.23.03 Mar 1798 -1.87 3.16 2844875
IDFC.23.03 Mar 79.5 3.25 0.84 160770000 GODREJCP.23.03 Mar 946.7 -1.8 1.87 5711000
ZEEL.23.03 Mar 214.2 3.2 0.2 69762000 VOLTAS.23.03 Mar 838.6 -1.76 10.93 5316600
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HDFCAMC.23.03 Mar 1768.8 4.78 -1.74 3410700 GAIL.23.03 Mar 106 -3.94 -0.75 71882400
HDFCLIFE.23.03 Mar 485.4 4.1 -1.1 22349800 GMRINFRA.23.03 Mar 40 -3.26 -4.48 1.16E+08
PEL.23.03 Mar 680.85 3.45 -3.38 8756550 LTTS.23.03 Mar 3430 -2.1 -0.02 1233200
RELIANCE.23.03 Mar 2278 3.1 -2.62 39895750 TORNTPOWER.23.03 Mar 521.35 -2.04 -1.53 2997000
RBLBANK.23.03 Mar 141.85 2.98 -4.43 34875000 PERSISTENT.23.03 Mar 4502 -1.37 -1.53 1079225


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Asset Management Co 1764.2 5.01 1883143 5512140 86.99 Nifty50 17107.5 0.7 98364
Icici Lombard General In 1083.15 0.38 707945 850513 81.2 Niftybank 39894.7 1.35 98367
Mcx 1501 1.32 154038 273776 80.96 Nifty it 28164.85 -0.98 98367
Crompton Greaves Consume 292.25 4.11 3817756 3840098 78.66 India Vix 15.08 -5.79 98367
Infosys Limited 1390.7 -0.92 8536755 5744126 69.86 Nifty Fmcg 44913.4 -0.66 98364
Sun Pharma  Ltd 956.2 -0.52 1687239 1335535 68.29 Nifty Pharma 11633.75 -0.25 98364
Indiamart Intermesh Limi 5102.3 4.04 327455 45646 66.78 Nifty Realty 394.7 -0.08 98364
Hcl Technologies Ltd. 1083.9 -0.64 2421127 1365719 66.1 Nifty Auto 12141.95 0.08 98364
Bharti Airtel Limited 756.95 0.28 5332221 2322933 65.14 Nifty Metal 5494.5 0.43 98364
Tech Mahindra Limited 1095.65 -1.2 3354949 2591987 64.68 Nifty Financial Services 17806.8 1.46 98364


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

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

 USD: Fed Interest Rate Decision on 22nd March, 2023

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


  • Benchmark indices ended on positive note on March 21 with Nifty above 17,100. The Sensex was up 445.73 points or 0.77% at 58,074.68, and the Nifty was up 119.10 points or 0.70% at 17,107.50. About 1923 shares advanced, 1487 shares declined, and 134 shares unchanged.

  • El Niño disruption to food prices may affect inflation control: Fitch Ratings Certainly, if we see disruptions and upward pressure from food prices, that could add to some challenges on the inflation front. Rural economy is quite a volatile part of the economic story and quite dependent on the monsoons.

  • Zydus Lifesciences Ltd on Tuesday said the US health regulator has granted ‘Orphan Drug Designation’ to its ‘ZYIL1’ for the treatment of patients with auto-inflammatory condition cryopyrin-associated periodic syndrome (CAPS).

  • Gold prices have hit a lifetime high in India, Australia, and the UK, while they’re at an 11-month high in the US. The crises at SVB, Signature Bank, and Credit Suisse are making investors turn to gold as a safe-haven asset.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ADVIKCA General 22-Mar-23 SKIFL General 23-Mar-23
ANGELONE Interim Dividend 22-Mar-23 DECOMIC General 24-Mar-23
ASSOCER General 22-Mar-23 GAMMONIND Quarterly Results 24-Mar-23
INDRENEW General 22-Mar-23 MANAPPURAM General 24-Mar-23
NITINCAST General 22-Mar-23 OMEGAIN General 24-Mar-23
PERSISTENT General 22-Mar-23 STDSFAC General 24-Mar-23
PRUDMOULI General 22-Mar-23 SUNRETAIL Right Issue of Equity Shares;Increase in Authorised Capital 24-Mar-23
SEAMECLTD Scheme of Arrangement 22-Mar-23 SVPHOUSING General 24-Mar-23
UNICK General 22-Mar-23 VINTAGES General 24-Mar-23
ZDHJERK General 22-Mar-23 WARDINMOBI General 24-Mar-23
AARTECH General 23-Mar-23 ESARIND General 25-Mar-23
ANDHRACEMT Preferential Issue of shares 23-Mar-23 SEJAL Audited Results 25-Mar-23
DIAMINESQ General 23-Mar-23 SURFUNC General 25-Mar-23
IGL Interim Dividend 23-Mar-23 USGTECH General 25-Mar-23
IONEXCHANG Scheme of Arrangement 23-Mar-23 CEINSYSTECH General 26-Mar-23
KESARPE General 23-Mar-23 CANOPYFIN General 27-Mar-23
METROBRAND General 23-Mar-23 CIGNITI General 27-Mar-23
PFC Interim Dividend 23-Mar-23 CONCORD General 27-Mar-23
RADHIKAJWE Stock  Split 23-Mar-23 HDFC General 27-Mar-23
RNBDENIMS General 23-Mar-23 ISWL General 27-Mar-23
SATIN General 23-Mar-23 MYSPAPE Quarterly Results 27-Mar-23
SEPC Rights Issue 23-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 CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000
ABSLAMC 24-Mar-23 Interim Dividend – Rs. – 5.0000 DWARKESH 31-Mar-23 Interim Dividend – Rs. – 2.0000
AJANTPHARM 24-Mar-23 Buy Back of Shares GPIL 31-Mar-23 Buy Back of Shares
BEL 24-Mar-23 Interim Dividend – Rs. – 0.6000 IGL 31-Mar-23 Interim Dividend
GLS 24-Mar-23 Interim Dividend – Rs. – 21.0000 PFC 31-Mar-23 Interim Dividend
GROWINGTON 24-Mar-23 Bonus issue 24:100 HCKKVENTURE 03-Apr-23 E.G.M.
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 SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/- MUTHOOTFIN 18-Apr-23 Interim Dividend
VKAL 24-Mar-23 E.G.M. HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
BCONCEPTS 29-Mar-23 Interim Dividend – Rs. – 0.5000 JETINFRA 21-Apr-23 Bonus issue 1:1
BHARATAGRI 29-Mar-23 Stock  Split From Rs.10/- to Rs.1/- NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
HINDZINC 29-Mar-23 Interim Dividend VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
MIRZAINT 29-Mar-23 Spin Off ABB 27-Apr-23 Dividend – Rs. – 5.5000
SBICARD 29-Mar-23 Interim Dividend HCLTECH 28-Apr-23 Interim Dividend
SYMPHONY 29-Mar-23 Buy Back of Shares KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
ANGELONE 31-Mar-23 Interim Dividend SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000

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