The NIFTY opened at 18118.45 with a gap up of 91 points. The index initially went down but soon found support and turned up after recording its intraday low at 18063.45. Prices have seen a sharp upside move and then faces resistance around 18150 and started a down move after recording its intraday high at 18162.60. The down move brought the index near its early morning low. However, prices have seen some recovery and finally closed at 18118.55 almost at its opening tick with a gain of 90.90 points or 0.50% up. The IT sector outperformed today and ended with a gain of nearly 2% followed by AUTO, FMCG, and PHARMA REALTY and METAL underperformed today and ended with a loss. For the past four trading days, the index is moving very narrowly inside just 200 points of the range. Boundaries are 18000 and 18200. This narrow movement suggests a sharp move is about to come. A breakout from this 200 point of the range may decide the next directional move. Till then step aside and avoid trading the index.


The BANK NIFTY opened at 4289145 with a big gap up of 377 points. The index initially moved lower but soon found support and bounced up. Prices have rallied, faces resistance around 43000, and turned down after recording its intraday high at 43005.85. A mild decline brought prices to its intraday low at 72727.70 and the index finally closed at 42755.30 with a gain of 241 points. PVT and PSU BANK both indices have performed almost the same today, saw an intraday rally and closed with a gain of 0.58% & 0.44% respectively. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while ICICI BANK contributed the lowest. It was a choppy day where prices moved in a narrow range of about just 278 points. A gap-up opening sustain today but the index could not build upon gains and closed near the opening tick. The short-term trend is up now. We have been tracking a narrow trading range inside 41700-42700. This range has seen a breakout on the upside. However, it was not decisive so we need a follow-through on the upside to confirm. We should wait for a confirmation and then plan our trade accordingly. As of now, step aside and avoid trading the index.


ITC 337.75 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought above 338.25 with a stop loss of 336.75 and a target of 341.25.
EXIDE INDIA 184.25 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 184.05 with a stop loss of 185.75 and a target of 181.45.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE  2400 PE BUY 6.15 ABOVE 6.90 4.65 11.50 BREAKDOWN
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
CANFINHOME.23.01Jan 551.95 6.16 6.56 3246750 AXISBANK.23.01 Jan 930.7 -0.17 3.91 35190000
BANDHANBNK.2301Jan 247.85 3.99 0.89 40978800 ADANIENT.23.01 Jan 3440.85 -0.46 6.38 8954750
MANAPPURAM2301Jan 119.05 3.21 6.68 40044000 BEL.23.01 Jan 101.85 -0.15 6.63 79247100
ASHOKLEY.23.01 Jan 147.35 2.26 13.96 69175000 PIIND.23.01 Jan 3134.5 -3.28 12.04 1279250
NAUKRI.23.01 Jan 3760.2 2.15 5.23 1015750 RELIANCE.23.01 Jan 2429.95 -0.7 4.99 31045250
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPOWER.2301Jan 490.9 6.57 -5.99 2941500 INDIACEM.23.01 Jan 206.8 -3.77 -13.48 9923800
COFORGE.23.01 Jan 4351.85 5.78 -10.1 547650 ATUL.23.01 Jan 7128.75 -3.61 -10.64 129150
PERSISTENT.23.01 Jan 4495.7 5.43 -0.43 481425 IDEA.23.01 Jan 7 -3.45 -29.13 237790000
INTELLECT.23.01 Jan 430 4.65 -24.06 3359000 RAMCOCEM.23.01 Jan 684.05 -2.92 -21.25 1972000
AUBANK.23.01 Jan 642.75 4.22 -36.37 4485000 NAVINFLUOR.23.01 Jan 3975.3 -2.05 -26.64 256050


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Marico Limited 503.95 -0.25 605076 0 81.59 Nifty50 18118.55 0.5 87537
Infosys Limited 1548 1.47 4855020 0 79.52 Niftybank 42821.25 0.74 87549
Hcl Technologies Ltd. 1121.2 1.21 1696834 0 77.94 Nifty it 30086 1.88 87549
Icici Lombard General In 1160 0.56 832729 0 75.29 India Vix 13.62 -1.23 87549
Tata Consultancy Serv Lt 3414.9 1.54 1067916 0 74.67 Nifty Fmcg 44261.9 0.83 87549
Itc Ltd. 337.75 0.94 7124807 0 74.36 Nifty Pharma 12718.45 0.89 87549
Kotak Mahindra Bank Limi 1783.75 1.18 7764627 0 74.1 Nifty Realty 424.75 -0.63 87549
Cummins India Limited 1427.05 -1.4 462438 0 72.42 Nifty Auto 12797.05 0.83 87549
Bharti Airtel Limited 772.7 1.08 2685320 0 71.86 Nifty Metal 6777.85 -0.4 87549
Hdfc Bank Ltd. 1673.1 0.73 7722200 0 71.76 Nifty Financial Services 18887.5 0.61 87546


   Domestic                                                                                                                                                  International
INR: Nikkei S&P Global Manufacturing PMI (Jan) on 1st  February, 2023

INR: Union Budget 2023-24 on 1st  February, 2023

 USD: Crude Oil Inventories on 25th  January, 2023

USD: GDP (QoQ) (Q4) on 26th  January, 2023


  • Benchmark indices ended on positive note with Nifty above 18100. At Close, the Sensex was up 319.90 points or 0.53% at 60,941.67, and the Nifty was up 90.80 points or 0.50% at 18,118.50. About 1595 shares have advanced, 1947 shares declined, and 180 shares are unchanged..
  • Axis Bank reported a net profit of Rs 5,853 crore for the December quarter (Q3FY23), a growth of 62 percent year-on-year, beating street estimates comfortably. The private sector lender’s net interest income rose 32 percent year-on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins.
  • Sterlite Power on Monday said it has bagged orders worth Rs 3,800 crore in the first three quarters of this fiscal, which is 90 per cent higher than a year ago.
  • Apple Inc wants India to account for up to 25% of its production from about 5%-7% now, the trade minister told a conference on Monday, as the iPhone maker continues to move its manufacturing away from China.
Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ACCELYA Interim Dividend;Quarterly Results 24-Jan-23 MARUTI Quarterly Results 24-Jan-23
ADROITINFO Quarterly Results 24-Jan-23 MORARKFI Quarterly Results 24-Jan-23
ALLSEC Quarterly Results 24-Jan-23 MOTILALOFS Interim Dividend;Quarterly Results 24-Jan-23
AMJLAND Quarterly Results 24-Jan-23 MRO-TEK Quarterly Results 24-Jan-23
APOLLOPIPES Quarterly Results 24-Jan-23 NAZARA Quarterly Results 24-Jan-23
ATFL Quarterly Results 24-Jan-23 ODYSSEY Quarterly Results 24-Jan-23
AURIONPRO Quarterly Results 24-Jan-23 PARACABLES General;Quarterly Results 24-Jan-23
AVL General;Quarterly Results 24-Jan-23 PARAGMILK Quarterly Results 24-Jan-23
BETXIND Quarterly Results 24-Jan-23 PDSL Quarterly Results 24-Jan-23
BHARATWIRE Quarterly Results 24-Jan-23 PGINVIT General;Quarterly Results 24-Jan-23
BIGBLOC General;Quarterly Results 24-Jan-23 PIDILITIND Quarterly Results 24-Jan-23
BLISSGVS Quarterly Results 24-Jan-23 PNBHOUSING Quarterly Results 24-Jan-23
CARTRADE Quarterly Results 24-Jan-23 PUNJABCHEM Quarterly Results 24-Jan-23
CENTENKA Quarterly Results 24-Jan-23 QUICKHEAL Quarterly Results 24-Jan-23
CGPOWER Quarterly Results 24-Jan-23 RADIOCITY Quarterly Results 24-Jan-23
CHALET Quarterly Results 24-Jan-23 RIDHISYN Quarterly Results 24-Jan-23
COLPAL Quarterly Results 24-Jan-23 SASKEN General;Quarterly Results 24-Jan-23
DUNCANENG Quarterly Results 24-Jan-23 SBICARD Quarterly Results 24-Jan-23
EARUM Right Issue of Equity Shares 24-Jan-23 SDBL Right Issue of Equity Shares;General;Quarterly Results 24-Jan-23
ELECON Quarterly Results 24-Jan-23 SHARDACROP Interim Dividend;Quarterly Results 24-Jan-23
GATEWAY Quarterly Results 24-Jan-23 SHREETULSI Quarterly Results;General 24-Jan-23
GEOJITFSL General;Quarterly Results 24-Jan-23 SKYLMILAR Quarterly Results 24-Jan-23
GOLDENCREST General;Quarterly Results 24-Jan-23 SNOWMAN Quarterly Results 24-Jan-23
GRANULES Quarterly Results 24-Jan-23 SONACOMS Interim Dividend;Quarterly Results 24-Jan-23
GRAVISSHO Quarterly Results 24-Jan-23 SONATSOFTW Quarterly Results 24-Jan-23
HARYNACAP Quarterly Results 24-Jan-23 SOUTHBANK Quarterly Results 24-Jan-23
HDFCAMC Quarterly Results 24-Jan-23 STAR Quarterly Results 24-Jan-23
HOMEFIRST Quarterly Results 24-Jan-23 STARHFL Quarterly Results 24-Jan-23
ICL Quarterly Results 24-Jan-23 STRGRENWO Quarterly Results 24-Jan-23
INANI Quarterly Results 24-Jan-23 SUPREMEIND Quarterly Results 24-Jan-23
INDOCO Quarterly Results 24-Jan-23 SURAJLTD Quarterly Results 24-Jan-23
INDUSTOWER Audited Results;Quarterly Results 24-Jan-23 TANAA Interim Dividend;Quarterly Results 24-Jan-23
IRONWOOD Quarterly Results 24-Jan-23 TATACOFFEE Quarterly Results 24-Jan-23
ISMTLTD Quarterly Results 24-Jan-23 TATVA Quarterly Results 24-Jan-23
KSCL Quarterly Results 24-Jan-23 TRIVENI Quarterly Results 24-Jan-23
LATENTVIEW Quarterly Results 24-Jan-23 TVSMOTOR Interim Dividend;Quarterly Results 24-Jan-23
LKPSEC Quarterly Results 24-Jan-23 UCOBANK Quarterly Results 24-Jan-23
LODHA Quarterly Results 24-Jan-23 UNITDSPR Quarterly Results 24-Jan-23
LONTE Quarterly Results 24-Jan-23 VAIBHAVGBL Interim Dividend;Quarterly Results 24-Jan-23
LXCHEM Quarterly Results 24-Jan-23 VIVANZA General;Stock  Split;Quarterly Results 24-Jan-23
MANRAJH Quarterly Results 24-Jan-23 ZSATYASL Quarterly Results 24-Jan-23


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANGELONE 24-Jan-23 Interim Dividend – Rs. – 9.6000 ACGL 01-Feb-23 Interim Dividend – Rs. – 2.5000
CARGOSOL 24-Jan-23 E.G.M. DCMSHRIRAM 01-Feb-23 Interim Dividend – Rs. – 5.8000
GOTHIPL 24-Jan-23 Interim Dividend – Rs. – 2.0000 MASTEK 01-Feb-23 Interim Dividend – Rs. – 7.0000
PRECWIRE 24-Jan-23 E.G.M. MFL 01-Feb-23 Interim Dividend – Rs. – 2.5000
WIPRO 24-Jan-23 Interim Dividend – Rs. – 1.0000 SHAREINDIA 01-Feb-23 Interim Dividend
HAVELLS 25-Jan-23 Interim Dividend – Rs. – 3.0000 THANGAMAYL 01-Feb-23 Interim Dividend
NATIONALUM 25-Jan-23 Interim Dividend – Rs. – 1.0000 ZENITHEXPO 01-Feb-23 E.G.M.
PERSISTENT 25-Jan-23 Interim Dividend – Rs. – 28.0000 ACCELYA 02-Feb-23 Interim Dividend
ABIRAFN 27-Jan-23 Buy Back of Shares SAREGAMA 02-Feb-23 Interim Dividend – Rs. – 3.0000
HINDZINC 27-Jan-23 Interim Dividend – Rs. – 13.0000 SHUKRAPHAR 02-Feb-23 Right Issue of Equity Shares
METROBRAND 27-Jan-23 Interim Dividend – Rs. – 2.5000 TANAA 02-Feb-23 Interim Dividend
PBAINFRA 27-Jan-23 E.G.M. VIPIND 02-Feb-23 Interim Dividend
PGINVIT 27-Jan-23 Income Distribution (InvIT) IIFLSEC 03-Feb-23 Interim Dividend
SURYAROSNI 27-Jan-23 Interim Dividend – Rs. – 3.0000 SUNCLAYLTD 03-Feb-23 Interim Dividend
360ONE 30-Jan-23 Interim Dividend – Rs. – 17.0000 VAIBHAVGBL 03-Feb-23 Interim Dividend
ASCENSIVE 30-Jan-23 E.G.M. ZENSARTECH 03-Feb-23 Interim Dividend
BANARBEADS 30-Jan-23 Interim Dividend – Rs. – 2.0000 SIYSIL 06-Feb-23 Interim Dividend
BAZELINTER 30-Jan-23 E.G.M. TCI 07-Feb-23 Interim Dividend
LTIM 30-Jan-23 Interim Dividend – Rs. – 20.0000 GILLETTE 09-Feb-23 Interim Dividend
SIEMENS 30-Jan-23 Final Dividend – Rs. – 10.0000 ENGINERSIN 13-Feb-23 Interim Dividend
CCL 31-Jan-23 Interim Dividend – Rs. – 3.0000 PGHL 13-Feb-23 Interim Dividend
MONIND 31-Jan-23 E.G.M. TVTODAY 13-Feb-23 Interim Dividend
RKFORGE 31-Jan-23 Interim Dividend – Rs. – 0.5000 CAMS 15-Feb-23 Interim Dividend
WENDT 31-Jan-23 Interim Dividend – Rs. – 30.0000 STL 15-Feb-23 Stock  Split From Rs.10/- to Rs.2/-

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website:
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL