The NIFTY opened with seventh consecutive gap at 20950.75 with a big gap up of 95 points. The index traded lower for the first half of trading but took support at 20850 and bounced back and Nifty eventually crossed the opening levels and made new lifetime high at 20961.95. Prices have finally closed at 20935.90 near its day’s high with a gain of 82 points or 0.4% up. MEDIA outperformed and led the bulls by closing over 2% followed by IT and FMCG. REALTY underperformed and ended with a loss of over half percent followed by PHARMA and PVT BANKS. The short-term trend is up and there is no doubt about it as prices are making a bullish pattern of higher highs and higher lows. Support is visible around 20300-20500 while there is no visible resistance as the index is moving in uncharted territory. We should look for buying only as far as prices are moving above 20300.


The BANK NIFTY opened at 47256.75 with a gap up of 287 points and made intraday high of 47259.85. The index initially moved down in the first half of trading and then started trading in a sideways range where it made intraday low at 46750.20. Prices finally closed at 4680 1.85 with a loss of 178points.PSU BANKs again managed to close higher with a gain of 0.63% whereas PVT BANKs closed with a loss of 0.33%. Within the index, in terms of points, IDFCFIRSTB contributed the highest on the upside while AUBANK contributed the lowest. The trend is very strong on the upside as the index has been recording lifetime new highs. Support is now visible around 46300 while there is no visible resistance as prices are trading in uncharted territory. We should look for buying only as far as prices are staying above 46300 support.


VOLTAS 845.05 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 849.00 with a stop loss of 838.30 and a target of 870.50.
CIPLA 1205.20 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1200.00 with a stop loss of 1212.15 and a target of 1176.50.


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
CHAMBLFERT.23.12 Dec 356.7 8.17 11.66 13989700 BALRAMCHIN.23.12 Dec 434.95 -7.26 8.32 10244800
HAL.23.12 Dec 2746 6.91 15.94 6561300 CANFINHOME.23.12 Dec 795.75 -5.45 36.77 6426225
INDIAMART.23.12 Dec 2742 4.82 23.26 1246200 ACC.23.12 Dec 2143.7 -2.22 1.61 4514700
TATAPOWER.23.12 Dec 296.7 4.71 9.17 99430875 ADANIENT.23.12 Dec 2914.6 -2.05 5.07 11774400
WIPRO.23.12 Dec 423.2 4.01 5 49539000 IDEA.23.12 Dec 12.95 -1.89 0.8 1659200000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LTTS.23.12 Dec 4897.95 4.11 -7.15 680600 ABB.23.12 Dec 4781.2 -1.68 -3.14 1084250
IEX.23.12 Dec 148.65 2.69 -1.55 58473750 IBULHSGFIN.23.12 Dec 201.4 -1.66 -2.49 61893600
BEL.23.12 Dec 156.55 2.35 -0.36 79526400 TORNTPHARM.23.12 Dec 2090.15 -1.1 -0.21 1626500
ZEEL.23.12 Dec 257.05 1.78 -1.19 118578000 INDIACEM.23.12 Dec 253.3 -0.74 -1.67 24971900
M&MFIN.23.12 Dec 272.65 1.41 -1.72 30696000 BANKNIFTY.23.12 Dec 46902.5 -0.53 -8.05 2025465

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Bosch Limited 21592.55 -0.28 15706 98399 84.86 Nifty50 20937.7 0.4 79176
Page Industries Limited 36732.85 -0.31 32370 61070 81.18 Niftybank 46834.55 -0.38 71409
Hindustan Unilever Ltd 2567.65 0.17 1573754 2488891 80.06 Nifty it 33022.6 1.67 71409
Cipla Ltd 1205.2 -1.57 1416770 1590990 74.62 India Vix 13.74 2.08 71514
Bajaj Auto Limited 6069.95 -1.14 699201 421408 74.48 Nifty Fmcg 54662.55 1.02 71409
Reliance Industries Ltd 2461.1 0.96 8211221 4643536 73.16 Nifty Pharma 16169.55 -0.37 71409
Itc Ltd. 463.25 2.55 20417559 8868016 73.07 Nifty Realty 732.2 -0.29 71409
Atul Ltd. 6830.7 0.73 34532 70887 71.98 Nifty Auto 17788.4 -0.02 71409
Syngene 721.3 -1.65 1269070 1118959 70.22 Nifty Metal 7425.35 0.03 71409
Marico Limited 539.5 0.54 1892079 897914 69.92 Nifty Financial Services 21026.75 -0.14 71409

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 8th December, 2023

INR: Interest Rate Decision on 8th December, 2023

USD: Initial Jobless Claims on 7th December, 2023

USD: Nonfarm Payrolls (Nov) on 8th December, 2023

News Updates

  • Benchmark indices ended on a positive note on December 6 with Nifty around 20,950. At close, the Sensex was up 357.59 points or 0.52 percent at 69,653.73, and the Nifty was up 82.60 points or 0.40 percent at 20,937.70. About 1659 shares advanced, 1592 shares declined, and 82 shares unchanged.

  • Despite the sharp surge in shares after the Supreme Court observations on the Hindenburg case and the BJP win in three states, Adani Group’s market cap is about 23 percent below its previous record of around Rs 20 lakh crore, reached before the Hindenburg Research report published on January 24.

  • Lenders to troubled domestic carrier Go First, founded by billionaire Nusli Wadia, may soon clear a proposal to liquidate the company, which has failed to meet multiple deadlines to resolve its ongoing debt crisis, people familiar with the development told Moneycontrol.

  • India’s state-owned banks wrote off loans to the tune of Rs 3.66 lakh crore in the last three financial years, the Reserve Bank of India (RBI) said in response on November 5 to an RTI filed by Moneycontrol on October 5. At the same time, these banks recovered just Rs 1.9 lakh crore, data showed.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
DGL Half Yearly Results 07-Dec-23 EMMESSA Quarterly Results 09-Dec-23
DOLPHINOFF Stock  Split 07-Dec-23 JCTLTD Quarterly Results 09-Dec-23
GATECH Right Issue of Equity Shares;General 07-Dec-23 KANANIIND Increase in Authorised Capital;Bonus issue;General 09-Dec-23
KKSHL Half Yearly Results 07-Dec-23 OLPCL General 09-Dec-23
LANCER General 07-Dec-23 VINTRON General 09-Dec-23
MESCON Audited Results;A.G.M. 07-Dec-23 NUWAY Quarterly Results 10-Dec-23
ADANIENSOL General 08-Dec-23 9FFSL23 Quarterly Results 11-Dec-23
BRAHMINFRA Quarterly Results 08-Dec-23 DYNAMICP General 11-Dec-23
CUPIDTR Quarterly Results 08-Dec-23 EASEMYTRIP Interim Dividend 11-Dec-23
DCBBANK Preferential Issue of shares 08-Dec-23 ENBETRD General 11-Dec-23
GICRE General 08-Dec-23 KAMADGIRI General 11-Dec-23
INDITALIA A.G.M. 08-Dec-23 LASTMILE Issue Of Warrants;Preferential Issue of shares 11-Dec-23
KEYFINSER Reduction of Capital 08-Dec-23 NMSRESRC General 11-Dec-23
LLOYDSME General 08-Dec-23 PRATIKSH General 11-Dec-23
MUFIN General 08-Dec-23 SOMICONV General 11-Dec-23
OBCL General 08-Dec-23 STDSFAC General 11-Dec-23
RAPIDIN General 08-Dec-23 STML Issue Of Warrants;General 11-Dec-23
RNAVAL Quarterly Results;General 08-Dec-23 TDSL General 11-Dec-23
SMGOLD Right Issue of Equity Shares 08-Dec-23 VICEROY General 11-Dec-23
SPICEJET Quarterly Results 08-Dec-23 KAUSHALYA General 12-Dec-23
VSL Right Issue of Equity Shares 08-Dec-23 PODDAR Quarterly Results 12-Dec-23
BALKRISHNA General 09-Dec-23 SMLT Interim Dividend 12-Dec-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASITCFIN 07-Dec-23 Right Issue of Equity Shares RCF 13-Dec-23 Final Dividend – Rs. – 3.7000
DHYAANI 07-Dec-23 Bonus issue 9:5 FORINTL 14-Dec-23 E.G.M.
POOJAENT 08-Dec-23 Bonus issue 6:1 HINDZINC 14-Dec-23 Interim Dividend
STEELXIND 11-Dec-23 E.G.M. TPHQ 14-Dec-23 Stock  Split From Rs.10/- to Rs.1/-
SUDIN 11-Dec-23 Stock  Split From Rs.10/- to Rs.5/- SOMANYCERA 15-Dec-23 Buy Back of Shares
BPCL 12-Dec-23 Interim Dividend – Rs. – 21.0000 PML 19-Dec-23 Bonus issue 2:1
RHL 12-Dec-23 E.G.M. FRANKLININD 21-Dec-23 E.G.M.
SAFARIND 12-Dec-23 Bonus issue 1:1 CMBL 22-Dec-23 E.G.M.
SIS 12-Dec-23 Buy Back of Shares GENNEX 22-Dec-23 E.G.M.
SONATSOFTW 12-Dec-23 Bonus issue 1:1 KLRFM 22-Dec-23 Dividend – Rs. – 2.0000

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