The NIFTY opened at 17811.60 with a big gap up of 149 points. The index initially moved further on the upside towards 18000 but faced resistance before reaching there. Prices have recorded its intraday high at 17972.20, saw a steep fall of more than 500 points, and went below 17500. The index recorded its intraday low at 17353.40. The NIFTY has seen some recovery in the last hour of trading and finally closed at 17616.30 with a loss of 45.85 points or 0.26% down. FMCG outperformed today and ended with a gain of 1.13% followed by IT which gained 0.93% METAL underperformed today and ended lower by more 4% followed by MEDIA and OIL GAS. The trend is still down. We have been tracking a support level of around 17500 and a resistance level of around 17800. The index did break both levels today but ended within this range. The INDIA VIX, a benchmark index for volatility, has seen a decline today but is still trading around level 17 which is moderately high. After a wide range day today, the next couple of days may be choppy and narrow.


The BANK NIFTY opened at 41115 with a big gap up of 356 points. The index initially went up till the afternoon and then saw a sharp decline after recording its intraday high at 42015.65. Prices have seen a steep fall till the end, recorded its intraday low at 39490.50, and finally closed at 40499.25 with a loss of 260 points. PSU BANK has underperformed today, saw a sharp intraday decline, and closed lower by more than 5%. PVT BANK has also moved down today but ended with a loss of just 0.09%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while SBIN contributed the lowest. BANK NIFTY traded very volatile on a budget day. The index moved in a wide range today. Initially, prices have gone up but erased all the gains in the second half and ended on a negative note. The index closed within a trading range with support around 39500 and resistance around 41000. After today’s sharp move, it is possible that the index may move narrow and choppy. We should observe the price action for the next couple of days and then plan our trades accordingly. The trend is down but the bias is sideways. Wait for a clear sense of direction.


INFY 1551.10 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought above 1555.75 with a stop loss of 1542.45 and a target of 1582.45.
HAL 2364.35 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2338.10 with a stop loss of 2386.90 and a target of 2240.65.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HAL   2400 CE SELL 76.50 CMP 115 22.50 BREAKDOWN
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDHOTEL.23.02 Feb 326.5 7.21 4.3 29888000 ADANIENT.23.02 Feb 2190 -26.67 7.19 16662750
CHOLAFIN.23.02 Feb 754.55 5.92 24.94 11110000 ADANIPORTS.23.02 Feb 507.35 -17.66 4.45 69703125
JINDALSTEL.23.02 Feb 612 3.96 5.57 21620000 ICICIPRULI.23.02 Feb 400.55 -12.23 21.12 15223500
DIXON.23.02 Feb 2795 3.39 5.98 947875 HDFCLIFE.23.02 Feb 517 -11.44 59.71 22101200
APOLLOTYRE.23.02 Feb 331.9 2.52 18.34 12015500 MFSL.23.02 Feb 747.85 -10.67 33.05 4434950
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GUJGASLTD.23.02 Feb 473.95 2.82 -4.52 4200000 AMBUJACEM.23.02 Feb 334 -17.16 -0.98 83178000
POLYCAB.23.02 Feb 2993 2.03 -2.07 853500 HINDCOPPER.23.02 Feb 118.6 -4.39 -0.29 21518400
TATASTEEL.23.02 Feb 122.25 1.24 -0.57 167013000 ZEEL.23.02 Feb 221.3 -3.02 -0.93 77520000
PIDILITIND.23.02 Feb 2326.9 1.19 -0.89 2522000 INTELLECT.23.02 Feb 430 -2.93 -0.98 4343000
BIOCON.23.02 Feb 239.8 1.14 -0.17 26325800 PVR.23.02 Feb 1658 -2.37 -2.51 2529505


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Syngene 566.45 0.74 2446363 0 80.08 Nifty50 17616.3 -0.26 91680
Icici Lombard General In 1125.35 -0.39 657740 0 79.11 Niftybank 40513 -0.35 91680
Nestleind 19089.85 0.38 68795 0 77.57 Nifty it 30018.25 0.93 91680
Hdfc Ltd. 2661.7 1.48 4406327 0 76.69 India Vix 16.78 -0.59 91680
Sbi Life Insurance Compa 1109.4 -9.03 8470232 0 75.85 Nifty Fmcg 44958.3 1.13 91680
Asian Paints Limited 2743.75 0.66 1176872 0 75.31 Nifty Pharma 12355.8 -0.04 91680
Container Corp Of India 611.35 -2.72 3147820 0 74.36 Nifty Realty 407.7 -0.94 91680
Alkem 3030.45 0.64 31174 0 74.15 Nifty Auto 13206.85 -0.88 91680
Kotak Mahindra Bank Limi 1744.7 0.79 3651940 0 74.09 Nifty Metal 6177.05 -4.5 91680
Bharti Airtel Limited 769.1 -0.16 4472974 0 73.75 Nifty Financial Services 18084.8 -0.06 91680


   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Jan) 03rd February, 2023

INR: FX Reserves, USD 03rd February, 2023

USD: Fed Interest Rate Decision 02nd  February, 2023

USD: Initial Jobless Claims 02nd  February, 2023


  • Indian stock benchmarks ended mixed on February 01st Nifty down 45.90 points or 0.26% at 17,616.30 and Sensex up 158.18 points or 0.27% at 59,708.08. About 1241 shares have advanced, 2193 shares declined, and 106 shares are unchanged. ITC, ICICI Bank, JSW Steel, Tata Steel and Tata Consumer Products were among the top gainers on the Nifty, while losers were Adani Enterprises, Adani Ports, HDFC Life, SBI Life Insurance and Bajaj Finserv.

  • Budget 2023: Govt. cut FY24 subsidy spends by 28% on food, fertilizer and fuel. Expenditure on food, fertilisers and petroleum—the government’s largest revenue expense after interest payments—is expected at Rs 3.74 lakh crore for FY24, 28% lower than the revised estimates for the ongoing financial year.

  • Adani Group stocks came under pressure again on February 1 as Credit Suisse halts margin loans on Adani bonds with stocks locked at lower circuits. Adani Green Energy Limited was quoting at Rs 1,114.00, down Rs 110.05, or 8.99 percent Adani Total Gas was quoting at Rs 1,901.65, down Rs 211.25, or 10.00 percent.

  • The finance minister provided the much-awaited relief to taxpayers by raising slabs. The surcharge on those earning between Rs 50 lakh and Rs 1 crore from 37% to 25%. The new tax regime will be the default choice, but citizens can still opt for the old tax regime.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
3IINFOTECH General;Quarterly Results 02-Feb-23 BSOFT Quarterly Results 02-Feb-23
AAVAS Quarterly Results 02-Feb-23 CERA General;Quarterly Results 02-Feb-23
ABCAPITAL Quarterly Results 02-Feb-23 CHANDNIMACH Quarterly Results 02-Feb-23
ABHIFIN Quarterly Results 02-Feb-23 CHENFERRO Quarterly Results 02-Feb-23
ADMANUM Quarterly Results 02-Feb-23 CHOKSI Quarterly Results 02-Feb-23
ADORFO General;Quarterly Results 02-Feb-23 CLEAN Interim Dividend;Quarterly Results 02-Feb-23
AEGISLOG Quarterly Results 02-Feb-23 COROMANDEL Interim Dividend;Quarterly Results 02-Feb-23
AMBITION Quarterly Results 02-Feb-23 CROMPTON Quarterly Results 02-Feb-23
AMS Quarterly Results 02-Feb-23 CSL Quarterly Results;Stock  Split 02-Feb-23
APLAPOLLO Quarterly Results 02-Feb-23 DABUR Quarterly Results 02-Feb-23
APOLLOTYRE Quarterly Results 02-Feb-23 DANUBE Quarterly Results 02-Feb-23
APTUS Quarterly Results 02-Feb-23 DBCORP Quarterly Results 02-Feb-23
ASIANTILES Quarterly Results 02-Feb-23 DEEPAKFERT Quarterly Results 02-Feb-23
BAJAJELEC Quarterly Results 02-Feb-23 DHINDIA General;Quarterly Results 02-Feb-23
BERGEPAINT Quarterly Results 02-Feb-23 ECLERX Quarterly Results 02-Feb-23
BIOGEN General;Quarterly Results 02-Feb-23 ESCORTSFIN General;Quarterly Results 02-Feb-23


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ACCELYA 02-Feb-23 Interim Dividend – Rs. – 35 STEELCAS 03-Feb-23 Interim Dividend – Rs. – 1.80
SAREGAMA 02-Feb-23 Interim Dividend – Rs. – 3 SUNCLAYLTD 03-Feb-23 Interim Dividend – Rs. – 59
SHUKRAPHAR 02-Feb-23 Right Issue of Equity Shares TORNTPHARM 03-Feb-23 Interim Dividend – Rs. – 14
SPRAYKING 02-Feb-23 Right Issue of Equity Shares VAIBHAVGBL 03-Feb-23 Interim Dividend – Rs. – 1.50
TANAA 02-Feb-23 Interim Dividend – Rs. – 2 VEDL 03-Feb-23 Interim Dividend – Rs. – 12.50
TVSMOTOR 02-Feb-23 Interim Dividend – Rs. – 5 ZENSARTECH 03-Feb-23 Interim Dividend – Rs. – 1.50
VIPIND 02-Feb-23 Interim Dividend – Rs. – 2 CONCOR 06-Feb-23 Interim Dividend – Rs. – 4
COFORGE 03-Feb-23 Interim Dividend – Rs. – 19 MINDSPACE 06-Feb-23 Income Distribution RITES
CONTROLPR 03-Feb-23 Interim Dividend – Rs. – 4 PATELENG 06-Feb-23 Right Issue of Equity Shares
EMBASSY 03-Feb-23 Income Distribution RITES SIYSIL 06-Feb-23 Interim Dividend – Rs. – 3
EQUITAS 03-Feb-23 Amalgamation SONACOMS 06-Feb-23 Interim Dividend – Rs. – 1.28
IIFLSEC 03-Feb-23 Interim Dividend – Rs. – 3 APCOTEXIND 07-Feb-23 Interim Dividend – Rs. – 2
KEI 03-Feb-23 Interim Dividend – Rs. – 3 EDVENSWA 07-Feb-23 Right Issue of Equity Shares
MOTILALOFS 03-Feb-23 Interim Dividend – Rs. – 7 IGL 07-Feb-23 Interim Dividend – Rs. – 3
NTPC 03-Feb-23 Interim Dividend – Rs. – 4.25 IIFL 07-Feb-23 Interim Dividend – Rs. – 4
SGRL 03-Feb-23 Right Issue of Equity Shares KIRLPNU 07-Feb-23 Interim Dividend – Rs. – 2.50

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