The NIFTY opened at 21653.60 with a big gap up of 140 points. The index initially saw a minor dip which found support quickly and prices have bounced up sharply afterward. A rally started which took the index above 21700. Prices found strong resistance there and started a consolidation process that lasted for the whole afternoon and eventually prices broke down. A sharp decline came towards the end which erased most of the gains. Prices have recorded its intraday high at 21724.45, its intraday low at 21517.85, and finally closed at 21544.85 with a gain of 31.85 points or 0.15% up. REALTY outperformed and closed with a gain of 2.52% followed by AUTO, PHARMA, and METAL. REALTY under performed and ended with a loss of 3.30% followed by BANK and FINANCIAL. The short-term trend is still up as the index continued moving inside a narrow range of about 300 points. However, the index has been hovering around the support levels for the past two days. The long-term trend is up while the long-term momentum has been moving inside the strength zone but the direction is down now.


The BANK NIFTY opened at 47705.40 with a big gap up of 241 points. The index initially saw a dip but soon turned up and saw a sharp upside move. Prices have found resistance around 47900 and started a consolidation process which lasted for the whole afternoon session. That range eventually broke down and prices saw a sharp decline afterward which gave up all the gains. The index first recorded its intraday high at 47939.30, then its intraday low at 47156.05, and finally closed at 47230.95 with a loss of 233 points. PSU and PVT BANKs both indices have performed almost the same, saw a mild downside move, and closed with a loss of 0.16% &0.37% respectively. The short-term trend is sideways now. We have been tracking a narrow trading range of 1000 points; The index broke down 47500 support and closed below this level for the second consecutive day confirming a breakdown. Support is now visible around 46300 while resistance is still may emerge around 48500. For the time being, we should step aside and avoid trading the index.


The rationale for arriving at the research recommendation: Trading Range Intermediate and short-term trends are up in INDIGO. The stock has seen a sharp upside move and then started a process of consolidation, Prices have formed a trading range and are now trading on the verge of a breakout. We may see an upside move here. Traders should look for a buying opportunity above 3025 with a stop just below 2995 and a target around 3085.

INDIGO 3019.40 BUY
MCX 3092.85 SELL A Pattern of Bearish Head & Shoulder Intermediate and short-term trends are sideways in MCX. The stock has seen a sharp upside move and then started a process of consolidation; Prices have formed a Pattern of Bearish Head & Shoulder and are now trading on the verge of a breakdown. We may see a downside move, look for a shorting opportunity below 3090 with a stop just above 3115 and a target around 3050.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DLF.24.01 Jan 793 4.24 10.99 36085500 POLYCAB.24.01 Jan 4888 -8.97 43 2355100
SIEMENS.24.01 Jan 4197 4.05 0.34 1665750 IDEA.24.01 Jan 16.15 -6.38 1.4 1896800000
ABB.24.01 Jan 4946.3 3.79 3.18 1047000 SRF.24.01 Jan 2315.4 -3.51 13.12 4413750
MFSL.24.01 Jan 945.95 3.45 3.22 6290400 PFC.24.01 Jan 393.45 -3.26 10.69 67215750
GODREJPROP.24.01 Jan 2243.55 3.38 6.52 3382000 PAGEIND.24.01 Jan 36601 -3.07 13.85 173865
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NATIONALUM.24.01 Jan 129.25 3.57 -2.02 72570000 ZEEL.24.01 Jan 258 -7.24 -1.27 100743000
GNFC.24.01 Jan 765 3.14 -0.23 7428200 ACC.24.01 Jan 2310.55 -2.05 -0.74 3553200
HDFCAMC.24.01 Jan 3421.3 1.97 -0.8 2637600 ESCORTS.24.01 Jan 2813.95 -1.53 -0.78 3653100
LT.24.01 Jan 3580.3 1.81 -2.69 10550700 L&TFH.24.01 Jan 166.85 -1.13 -0.72 41103944
BSOFT.24.01 Jan 723.4 1.63 -8.22 5738000 RAMCOCEM.24.01 Jan 991.75 -0.8 -1.04 3477350


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Atul Ltd. 6807 -0.6 33715 118314 85.2 Nifty50 21544.85 0.15 71496
Kotak Mahindra Bank Limi 1826.65 0.03 4339223 9997606 81.59 Niftybank 47242.65 -0.44 71496
Sun Pharma  Ltd 1324 1.43 1712281 1220891 72.75 India Vix 13.26 -1.49 71628
Piind 3440.95 1.05 519003 169825 69.91 Nifty Fmcg 56573.1 -0.18 71496
Maruti Suzuki India Ltd 10024.1 0.78 666466 416366 69.38 Nifty Pharma 17346.3 0.87 71496
Grasim Ind Ltd. 2064.05 -0.18 1211933 384007 68.9 Nifty Auto 18519.8 0.92 71496
Pidilite Industries Ltd 2724.1 0.35 273221 180519 67.12 Nifty Financial Services 21197.25 -0.45 71496
Hindustan Unilever Ltd 2579.75 0.06 1017205 797495 67.03 Nifty Metal 7808.3 0.79 71496
Larsen & Toubro Limited 3555.95 1.57 1807251 1319026 66.15 Nifty Realty 866.75 2.52 71496
Bharti Airtel Limited 1064.5 1.47 3371114 2968833 66.13 Nifty it 34662.45 0.43 71496


   Domestic                                                                                                                                                  International
INR: Thomson Reuters IPSOS PCSI (MoM) (Jan) on 12th January, 2024

INR: CPI (YoY) (Dec) on 12th January, 2024

USD: Crude Oil Inventories on 10th January, 2024

USD: CPI (YoY) (Dec) on 11th January, 2024


  • Benchmark indices ended higher for the second consecutive session on January 9 amid volatility with Nifty around 21,550. At close, the Sensex was up 30.99 points or 0.04 percent at 71,386.21, and the Nifty was up 31.80 points or 0.15 percent at 21,544.80. About 1984 shares advanced, 1330 shares declined, and 71 shares unchanged.

  • Polycab tanked over 7 percent on January 9 after reports Rs 200-crore tax evasion. Sources told CNBC TV18 that the income tax department detected Rs 250-300 crore of transactions booked in the company’s promoter accounts. The company had denied the allegations.

  • Indian IT companies will likely beat the predictions of continued weakness and see strong earnings growth in 2024 on AI spending boost, Omniscience Capital CEO and Chief Investment Strategist Vikas Gupta has said. India and US tech companies are expected to have a 15 percent earnings growth during the year, Gupta said in an interview to Moneycontrol.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
7NR Quarterly Results 10-Jan-24 BPTEX Preferential Issue of shares;Issue Of Warrants 11-Jan-24
AURIONPRO General 10-Jan-24 CONTAINE General 11-Jan-24
CMBL Quarterly Results 10-Jan-24 FUNDVISER General;Quarterly Results 11-Jan-24
EFCIL Preferential Issue of shares 10-Jan-24 GTPL Quarterly Results 11-Jan-24
ELITECON Voluntary Delisting of Shares 10-Jan-24 GUJHOTE Quarterly Results 11-Jan-24
HPIL Preferential Issue of shares 10-Jan-24 GVFILM Issue Of Warrants 11-Jan-24
INDRANIB General;Increase in Authorised Capital 10-Jan-24 HDFCAMC Quarterly Results 11-Jan-24
MANCREDIT Issue Of Warrants;Preferential Issue of shares 10-Jan-24 IGCIL General 11-Jan-24
MARBU Quarterly Results 10-Jan-24 INFY Audited Results;Quarterly Results 11-Jan-24
MASFIN Interim Dividend;General 10-Jan-24 KENVI Quarterly Results 11-Jan-24
PAVNAIND Rights Issue 10-Jan-24 LONTE Quarterly Results 11-Jan-24
PRESSURS General 10-Jan-24 MERCTRD General;Quarterly Results 11-Jan-24
SPS Quarterly Results 10-Jan-24 PLASTIBLEN Quarterly Results 11-Jan-24
SSLFINANCE General;Issue Of Warrants 10-Jan-24 PROFINC Consolidation of Shares;Quarterly Results 11-Jan-24
SUNITATOOL Quarterly Results 10-Jan-24 QUASAR Quarterly Results 11-Jan-24
TINEAGRO General;Quarterly Results 10-Jan-24 RAJOOENG Quarterly Results 11-Jan-24
UHZAVERI Quarterly Results 10-Jan-24 ROSEMER General;Employees Stock Option Plan 11-Jan-24
VANDANA General;Quarterly Results 10-Jan-24 SKRABUL Preferential Issue of shares;Increase in Authorised Capital;Issue Of Warrants;Rights Issue 11-Jan-24
VFL Quarterly Results 10-Jan-24 SONALIS Audited Results 11-Jan-24
ZPRBHSTE General 10-Jan-24 SPYL Quarterly Results 11-Jan-24
5PAISA General;Quarterly Results 11-Jan-24 TCS Interim Dividend;Audited Results;Quarterly Results 11-Jan-24
AGIIL General;Quarterly Results 11-Jan-24 VIJAYTX Quarterly Results 11-Jan-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
COCHINSHIP 10-Jan-24 Stock  Split From Rs.10/- to Rs.5/- TRISHAKT 16-Jan-24 Stock  Split From Rs.10/- to Rs.2/-
GRASIM 10-Jan-24 Right Issue of Equity Shares DHAMPURSUG 17-Jan-24 Buy Back of Shares
SIPTL 10-Jan-24 Right Issue of Equity Shares MKEXIM 17-Jan-24 Bonus issue 1:2
ESSENTIA 11-Jan-24 Bonus issue 1:1 CHAMBLFERT 18-Jan-24 Buy Back of Shares
FRANKLININD 11-Jan-24 Stock  Split From Rs.10/- to Rs.1/- HCLTECH 19-Jan-24 Interim Dividend
FREDUN 11-Jan-24 E.G.M. TCS 19-Jan-24 Interim Dividend
OLPCL 11-Jan-24 E.G.M. ANGELONE 23-Jan-24 Interim Dividend
ASCENSIVE 12-Jan-24 E.G.M. ASARFI 23-Jan-24 E.G.M.
INFRATRUST 12-Jan-24 Income Distribution (InvIT) PRIMEFRESH 24-Jan-24 E.G.M.
KAUSHALYA 12-Jan-24 Consolidation of Shares SHRAJSYNQ 24-Jan-24 E.G.M.
NEWGEN 12-Jan-24 Bonus issue 1:1 BRIJLEAS 25-Jan-24 E.G.M.
SPENTEX 12-Jan-24 Resolution Plan -Suspension KSOLVES 25-Jan-24 Interim Dividend
SUKHJITS 15-Jan-24 Interim Dividend – Rs. – 8.0000 ACCELYA 29-Jan-24 Interim Dividend
TATACOFFEE 15-Jan-24 Amalgamation REGENCY 01-Feb-24 E.G.M.
TATACOFFEE 15-Jan-24 Spin Off ZENSARTECH 02-Feb-24 Interim Dividend
RAJATH 16-Jan-24 E.G.M. SHREECEM 08-Feb-24 Interim Dividend

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