The NIFTY opened at 18300.45 with a gap up of just 14 points. The index could not sustain itself at the higher level and started drifting downwards from the opening tick. Prices have recorded its intraday high at 18309 just above the opening tick, saw a sharp intraday decline, and broke down 18200 support. Prices have fallen further to record its intraday low at 18115.35. The index started consolidating afterward and saw some recovery towards the end. Prices have finally closed at 18181.75 with a loss of 104.75 points or 0.57% down. All the sectoral indices have closed with a loss today except AUTO and FMCG which ended with minor gains. MEDIA and REALTY led the bears today followed by IT, METAL, and FINANCIAL. The short-term trend is now sideways as prices have broken and closed below the 18200 support levels. The next support is now visible around 18000 -18050 zones. The index is finding resistance around 18400. The last two days of the down move gave us a buy-on-dips opportunity.


The BANK NIFTY opened at 43948.50 with a gap up of 92 points. The index could not sustain at the higher levels and started drifting downwards after recording its intraday high at 43992.75. A sharp decline brought prices to its intraday low at 43446.60. The index found support there and saw some recovery to finally close at 43748.90 with a loss of 108 points. PSU and PVT BANK both indices have performed almost the same today, saw an intraday decline, and dosed lower by 0.34% & 0.46% respectively. Within the index, in terms of points, INDUSIND BANK contributed the highest on the upside while KOTAK BANK contributed the lowest. The short-term trend is still up. We have mentioned support around 43000 and resistance around the lifetime high recorded at 44151.80. The last two days of the down move have given us a buy-on-dips opportunity.


APOLLO TYRE 406.30 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 407.10 with a stop loss of 402.80 and a target of 414.70.
MCX 1342.30 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1333.75 with a stop loss of 1345.05 and a target of 1312.90.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BHARTI AIRTEL  800 CE BUY 6.10 ABOVE 6.60 4.20 11.40 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
EXIDEIND.23.05 May 205.9 5.73 34.48 22816800 LICHSGFIN.23.05 May 371.3 -6.36 8.43 24914000
JUBLFOOD.23.05 May 485.35 4.29 13.15 17685000 OBEROIRLTY.23.05 May 917.45 -6.23 8.61 7071400
RAMCOCEM.23.05 May 788.5 2.4 4.35 3835200 JINDALSTEL.23.05 May 532.15 -5.34 15.04 21456250
CHAMBLFERT.23.05 May 302.75 2.21 2.79 5632500 PVR INOXLIMITED2305M 1364.85 -4.94 26.71 4209194
ESCORTS.23.05 May 2119.8 2.2 5.82 1466025 IDEA.23.05 May 7.05 -4.73 6.41 510300000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SHRIRAMFIN.23.05 May 1350.3 1.29 -2.07 4232400 AUROPHARMA.2305May 619.1 -3.45 -0.04 9557000
AMBUJACEM.23.05 May 406.25 1.28 -0.6 58615200 BSOFT.23.05 May 321.3 -2.09 -2.19 8026000
INDUSINDBK.23.05 May 1236.4 1.26 -0.34 20894400 PFC.23.05 May 164.8 -1.82 -2.63 66389600
HAL.23.05 May 3130.55 1.09 -0.33 2617200 MFSL.23.05 May 672 -1.78 -0.78 4355650
GNFC.23.05 May 655 1.06 -1.99 7111000 KOTAKBANK.23.05 May 1912.65 -1.75 -0.28 26341200


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 238.8 -0.75 8670697 6922882 80.84 Nifty50 18181.75 -0.57 118257
Container Corp Of India 639.3 -0.61 1030002 667595 73.85 Niftybank 43698.7 -0.47 118200
Infosys Limited 1246.9 -1.38 10465667 3812472 72.81 Nifty it 27942.95 -0.97 118200
Hindustan Unilever Ltd 2661.75 -0.53 839403 1056574 71.49 India Vix 13.11 -1.39 118467
Jublfood 481.1 3.09 12060387 3997265 71.12 Nifty Fmcg 49434 0.06 118200
Bharat Forge Ltd 776.85 0.98 699753 855022 70.99 Nifty Pharma 12398.55 -0.45 118200
Sun Pharma  Ltd 935.95 -0.53 2956985 1842109 70.17 Nifty Realty 465.8 -1.33 118200
Bajaj Auto Limited 4529.35 -0.2 346510 225227 70.1 Nifty Auto 13889.9 0.09 118200
Hcl Technologies Ltd. 1074.55 -1.48 3602382 782287 67.07 Nifty Metal 5632.85 -0.89 118200
Mah & Mah Ltd. 1263.1 0.05 1643851 1053780 67.06 Nifty Financial Services 19301.35 -0.71 118197


   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 19th May, 2023

INR: Bank Loan Growth on 19th May, 2023

 USD: Initial Jobless Claims on 18th May, 2023

USD: Existing Home Sales (Apr)von 18th May, 2023


  • Indian benchmark indices ended lower for the second consecutive session on May 17 with Nifty below 18,200. At close, the Sensex was down 371.83 points or 0.60 percentat 61,560.64, and the Nifty was down 104.70 points or 0.57percentat 18,181.80. About 1,666 shares advanced, 1,722 shares declined, and 129 shares were unchanged.

  • CapitaLand Investment Ltd is planning to deploy around Rs 4,500 crore over the next 6 to 7 years to expand its footprint into business parks and industrial logistics parks in India.

  • More analysts point to ONDC not being a threat to Zomato and Swiggy duopoly. A higher commission model was especially needed because ONDC cannot keep funding discounts for long nor can it forgo its own commissions for software and network upkeep. A like-for-like comparison shows the current commission rates of food techs and ONDC are similar.

  • Bharti Airtel reported a 50 percent jump in consolidated net profit at Rs 3,006 crore for the quarter ended March 2023 from Rs 2,008 crore a year back. Sequentially, it was a surge of 89 percent.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AAATECH Audited Results;General 18-May-23 GRINFRA Audited Results 18-May-23
ALAN SCOTT Audited Results 18-May-23 GULFOILLUB Audited Results;Dividend 18-May-23
ARVIND Audited Results;Final Dividend;General 18-May-23 HCC Audited Results 18-May-23
ATLANTADEV Audited Results 18-May-23 HELPAGE Audited Results;General;Quarterly Results 18-May-23
ATLINFRA Audited Results 18-May-23 HNDFDS Audited Results;General 18-May-23
AUTOIND Audited Results 18-May-23 HOCL Audited Results 18-May-23
AXTEL Audited Results 18-May-23 HTMEDIA Audited Results;Quarterly Results 18-May-23
BATAINDIA Audited Results;Dividend 18-May-23 HYBRIDFIN Audited Results 18-May-23
CENTENKA Audited Results;Final Dividend 18-May-23 IGPL Audited Results;Final Dividend 18-May-23
CFL Audited Results 18-May-23 INDIGO Audited Results 18-May-23
CHAMAK Voluntary Delisting of Shares 18-May-23 INDPRUD Audited Results;Final Dividend;General 18-May-23
CHEMFABALKA Audited Results;Employees Stock Option Plan;Final Dividend 18-May-23 INDRAIND Audited Results 18-May-23
CLEAN Audited Results;Final Dividend 18-May-23 INTEGSW Audited Results 18-May-23
CONCOR Audited Results;Final Dividend;General 18-May-23 ITC Audited Results;Final Dividend 18-May-23
CORALFINAC Audited Results;Final Dividend 18-May-23 JAIMATAG General 18-May-23
DAAWAT Audited Results 18-May-23 JETAIRWAYS Audited Results 18-May-23
DEL Increase in Authorised Capital 18-May-23 JOSTS Audited Results;Final Dividend;General 18-May-23
DHOOTIN Audited Results 18-May-23 JUPITERIN Audited Results 18-May-23
DIKSAT Audited Results 18-May-23 KAMDHENU Audited Results;Final Dividend;General 18-May-23
DIVGIITTS Audited Results;Final Dividend;General;Quarterly Results 18-May-23 KAMOPAINTS Audited Results;General 18-May-23
DJML Audited Results;Final Dividend 18-May-23 KEDIACN Audited Results;General 18-May-23
EY Audited Results 18-May-23 KIMS Audited Results;Quarterly Results 18-May-23
FERVENTSYN Audited Results 18-May-23 LIKHITHA Audited Results;Final Dividend 18-May-23
FUTSOL A.G.M.;Audited Results;Final Dividend;General;Quarterly Results 18-May-23 LYKISLTD A.G.M.;Audited Results;Dividend;Quarterly Results 18-May-23
GAIL Audited Results;General 18-May-23 MANINDS Audited Results 18-May-23
GANGAPHARM Audited Results 18-May-23 MEGRISOFT Quarterly Results 18-May-23
GGAUTO Audited Results 18-May-23 MODCL Audited Results 18-May-23
GLAND Audited Results 18-May-23 MPILCORPL Audited Results;Dividend 18-May-23
GNFC Audited Results;Final Dividend 18-May-23 MUKATPIP Audited Results;Quarterly Results 18-May-23
GREENCREST Audited Results 18-May-23 NELCAST Audited Results;Dividend 18-May-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
FOSECOIND 17-May-23 Final Dividend – Rs. – 25.0000 KENNAMET 25-May-23 Interim Dividend – Rs. – 20.0000
FOSECOIND 17-May-23 Special Dividend – Rs. – 15.0000 TRENT 25-May-23 Dividend – Rs. – 2.2000
INDIGRID 18-May-23 Income Distribution (InvIT) BIRET 26-May-23 Income Distribution RITES
LEX 18-May-23 E.G.M. PGIL 26-May-23 Interim Dividend – Rs. – 5.0000
 MANINFRA 19-May-23 Interim Dividend – Rs. – 0.3600 SIMPLXMIL 26-May-23 Consolidation of Shares
ADVENZYMES 19-May-23 Interim Dividend – Rs. – 4.0000 SIMPLXPAP 26-May-23 Consolidation of Shares
ALICON 19-May-23 Interim Dividend TRIDENT 26-May-23 Interim Dividend
COLPAL 19-May-23 Interim Dividend – Rs. – 21.0000 ANANDRATHI 29-May-23 Final Dividend – Rs. – 7.0000
HOMEFIRST 19-May-23 Final Dividend – Rs. – 2.6000 IRB 29-May-23 Interim Dividend
JMFINANCIL 19-May-23 Final Dividend – Rs. – 0.9000 RALLIS 30-May-23 Final Dividend – Rs. – 2.5000
KCDGROUP 19-May-23 Right Issue of Equity Shares BGJL 31-May-23 Right Issue of Equity Shares
RAIN 19-May-23 Interim Dividend – Rs. – 1.0000 SHREECEM 01-Jun-23 Interim Dividend
TATACONSUM 19-May-23 Final Dividend – Rs. – 8.4500 INFY 02-Jun-23 Final Dividend – Rs. – 17.5000
VEERKRUPA 19-May-23 Bonus issue 2:3 MAHINDCIE 02-Jun-23 Final Dividend – Rs. – 2.5000
VEERKRUPA 19-May-23 Stock  Split From Rs.10/- to Rs.1/- PAGEIND 02-Jun-23 Interim Dividend
KMSMEDI 22-May-23 E.G.M. HARDWYN 05-Jun-23 Bonus issue 1:3
MAHABANK 23-May-23 Final Dividend – Rs. – 1.3000 HARDWYN 05-Jun-23 Stock  Split From Rs.10/- to Rs.1/-
GESHIP 24-May-23 Interim Dividend – Rs. – 9.0000 NELCO 06-Jun-23 Dividend – Rs. – 2.0000
MANAPPURAM 24-May-23 Interim Dividend – Rs. – 0.7500 SESHAPAPER 07-Jun-23 Dividend – Rs. – 6.0000
ROSSARI 24-May-23 Final Dividend – Rs. – 0.5000 TATAPOWER 07-Jun-23 Final Dividend – Rs. – 2.0000
GENPHARMA 25-May-23 E.G.M. PONNIERODE 08-Jun-23 Final Dividend – Rs. – 6.5000
KANSAINER 25-May-23 Final Dividend – Rs. – 2.7000 RCL 08-Jun-23 Stock  Split From Rs.10/- to Rs.1/-

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