The NIFTY opened at 18113.80 with a gap down of 34 points. The Index initially moved lower but soon found support and bounced up but faced resistance quickly. The index then saw a sharp decline and some recovery towards the end. Prices have recorded first its intraday high at 18116.35 and then its intraday low at 18042.40. The NIFTY finally closed at 18089.85 with a loss of 57.80 points or 0.32% down. The FMCG outperformed and closed with 0.78% gains followed by MEDIA and REALTY, IT and METAL underperformed and closed with a loss of nearly 1% followed by OIL GAS. We are expecting a brief consolidation here and that has just begun. Soon we will see a breakout one way or the other. We will then plan our trade accordingly. Support is now visible around 17800 while resistance is visible around the 18100-18200 range.


The BANK NIFTY opened at 43154.85 with a gap down of 151 points. The index recorded its intraday low at 43078.15 in its initial trades and started moving on the upside. The index continued moving higher for the whole day with sharp intraday declines in between. Prices have recorded its intraday high at 43354.95 and finally dosed at 43292 with a loss of just 13 points. PSU BANK has underperformed, saw a sharp decline, and closed with a loss of 0.98%. PVT BANK has outperformed and closed with a gain of just 0.06%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while AXIS BANK contributed the lowest. The short-term trend is up. For the past two trading days, the index is trading very narrowly. We have been expecting a brief consolidation here. This narrow movement indicates a sharp move should come. Support is now visible around 42500 while resistance is visible around 43500.


PIDILITE IND 2463.95 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 2469.55 with a stop loss of 2449.75 and a target of 2499.30.
BHARAT FORGE 784.85 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 781.95 with a stop loss of 787.20 and a target of 771.50.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
4500 CE BUY 135.80 CMP 109 224 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BHEL.23.05 May 87.4 6.39 15.28 112234500 MANAPPURAM2305May 114 -12.54 46.17 57672000
MRF.23.05 May 94148.95 5.77 34.22 55110 ADANIENT.23.05 May 1846 -4.33 1.97 9016500
INDIGO.23.05 May 2178.05 4.58 20.73 3975600 AMBUJACEM.23.05 May 383.8 -3.31 5.94 67793400
LAURUSLABS.23.05 May 322.5 3.43 1.76 14907200 INDUSTOWER.23.05 May 151.45 -3.1 11.65 26667200
INDHOTEL.23.05 May 358.15 2.62 1.43 24996000 BOSCHLTD.23.05 May 19377.15 -2.47 7.93 140800
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HAL.23.05 May 3025.05 2.53 -0.56 2750100 LTTS.23.05 May 3730.15 -1.55 -3.03 1171800
PIDILITIND.23.05 May 2474.7 1.76 -2.57 2710500 LTIM.23.05 May 4508.05 -1.5 -0.17 1484550
INDIAMART.23.05 May 5726 1.67 -7.11 272250 RAIN.23.05 May 162.95 -1 -0.22 11200000
WHIRLPOOL.23.05 May 1339.45 1.29 -7.05 705600 JINDALSTEL.23.05 May 590.95 -0.92 -0.23 17673750
HINDUNILVR.23.05 May 2495.95 1.14 -1.5 10039800 HCLTECH.23.05 May 1064.8 -0.85 -0.1 9954000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2486 1.4 1258140 1344124 76.35 Nifty50 18089.85 -0.32 86850
Muthootfin 1019.1 -0.81 391273 821812 73 Niftybank 43312.7 -0.09 86850
Dabur India Ltd. 537.95 0.28 2882258 766430 69.71 Nifty it 27743.75 -1 86850
Cipla Ltd 920.65 0.32 2566561 1287052 69.3 India Vix 11.84 -0.5 86850
Indigo 2164.1 4.68 4126517 585227 68.84 Nifty Fmcg 48120.65 0.78 86850
Petronet Lng Limited 236.7 -0.13 3447131 2441288 68.56 Nifty Pharma 12586.8 -0.03 86850
Bharti Airtel Limited 779.3 -1.38 3908267 4268095 67.73 Nifty Realty 446.2 0.28 86850
Tata Consultancy Serv Lt 3179.9 -1.23 2468285 1565884 67.46 Nifty Auto 13278.6 -0.03 86850
Icici Lombard General In 1088.45 0.13 448506 388802 66.56 Nifty Metal 5824.25 -0.98 86850
Sun Pharma  Ltd 963.6 -0.97 3087472 2079651 65.97 Nifty Financial Services 19182.25 -0.13 86850


   Domestic                                                                                                                                                  International
INR: Deposit Growth on 5th May, 2023

INR: Bank Loan Growth on 5th May, 2023

 USD: Initial Jobless Claims on 4th May, 2023

USD: Nonfarm Payrolls (Apr) on 5th May, 2023


  • India’s benchmark Sensex ended 0.26 percent or 161 points lower to 61193.30 points while Nifty 50 Index lost 0.32 percent or 57.80 points to 18089.85 points. Nifty IT, Metal and PSU indices declined nearly 1% each while Nifty FMCG and Realty gained 0.8 percent and 0.3 percent respectively.

  • BHEL stock got back into momentum, rising over 6 percent on May 3 despite correction in benchmark indices. It has formed strong bullish candlestick pattern on the daily charts for yet another session, with making higher tops higher bottoms for third consecutive day.

  • MRF share price climbed nearly 3 percent on May 3 after healthy earnings growth with sharp margin improvement recorded for the quarter ended March FY23. The standalone profit of the tyre maker increased significantly by 162 percent to Rs 410.66 crore for the March FY23 quarter, backed by robust operating performance and exceptional gains.

  • The media and entertainment industry in India grew at 19.9 percent in 2022 and crossed the Rs 2 trillion mark after a 23 percent drop in revenue during the coronavirus pandemic years.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
360ONE Interim Dividend;Audited Results 04-May-23 J&KBANK Final Dividend;Audited Results 04-May-23
ADANIENT Dividend;Audited Results 04-May-23 MARALOVER Audited Results 04-May-23
AGI Final Dividend;General;Audited Results 04-May-23 MINDSPACE Audited Results 04-May-23
AMERISE General;Audited Results 04-May-23 PAUSHAKLTD Final Dividend;Audited Results 04-May-23
AMRAAGRI General;Audited Results 04-May-23 PRESHAMET General;Audited Results 04-May-23
APTUS General;Interim Dividend;Audited Results 04-May-23 PUNJABCHEM Final Dividend;Audited Results 04-May-23
BLOOM Quarterly Results;General;Audited Results 04-May-23 RANEENGINE Audited Results 04-May-23
BLUESTARCO Quarterly Results;Final Dividend;Bonus issue;Audited Results 04-May-23 RESPONIND Dividend;Audited Results 04-May-23
BOMDYEING Final Dividend;Audited Results 04-May-23 RMC Audited Results 04-May-23
CEATLTD Dividend;General;Audited Results 04-May-23 RTNPOWER Audited Results 04-May-23
CHAMAK Voluntary Delisting of Shares 04-May-23 RUSHIL Final Dividend;Quarterly Results;Audited Results 04-May-23
CHOICEIN Audited Results 04-May-23 SOLIDSTON Audited Results 04-May-23
DABUR Final Dividend;Audited Results 04-May-23 STRGRENWO Audited Results 04-May-23
DENORA Final Dividend;General;Audited Results 04-May-23 SUNDRMFAST Interim Dividend;Audited Results 04-May-23
ENBETRD Right Issue of Equity Shares 04-May-23 SURAJLTD Audited Results 04-May-23
ENIL Final Dividend;General;Audited Results 04-May-23 TATAPOWER Final Dividend;Audited Results 04-May-23
FILATEX Final Dividend;Audited Results 04-May-23 TRIL Final Dividend;A.G.M.;General;Audited Results 04-May-23
FSL Audited Results 04-May-23 TVSMOTOR Audited Results 04-May-23
HDFC Dividend;Audited Results 04-May-23 UBL Dividend;Quarterly Results;Audited Results 04-May-23
HEROMOTOCO Quarterly Results;Final Dividend;Audited Results 04-May-23 VINYLINDIA Audited Results 04-May-23
IDFC Quarterly Results;Audited Results 04-May-23 WITS General;Audited Results 04-May-23
IMEC General 04-May-23 ZPARICIN General;Audited Results 04-May-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
APOLLO 04-May-23 Stock  Split From Rs.10/- to Rs.1/- TRENT 25-May-23 Dividend – Rs. – 2.2000
CASTROLIND 04-May-23 Final Dividend – Rs. – 3.5000 RALLIS 30-May-23 Final Dividend – Rs. – 2.5000
COMFINCAP 04-May-23 Stock  Split From Rs.10/- to Rs.2/- RCL 31-May-23 Stock  Split From Rs.10/- to Rs.1/-
CRISIL 04-May-23 Interim Dividend – Rs. – 7.0000 INFY 02-Jun-23 Final Dividend – Rs. – 17.5000
EMBASSY 04-May-23 Income Distribution RITES MAHABANK 02-Jun-23 Final Dividend – Rs. – 1.3000
FRUTION 04-May-23 E.G.M. MAHINDCIE 02-Jun-23 Final Dividend – Rs. – 2.5000
PHYTO 04-May-23 E.G.M. SESHAPAPER 07-Jun-23 Dividend – Rs. – 6.0000
OFSS 09-May-23 Interim Dividend – Rs. – 225.0000 PONNIERODE 08-Jun-23 Final Dividend – Rs. – 6.5000
RKFORGE 09-May-23 Interim Dividend – Rs. – 0.5000 VOLTAS 09-Jun-23 Final Dividend – Rs. – 4.2500
COFORGE 10-May-23 Interim Dividend – Rs. – 19.0000 HIGHENE 16-Jun-23 Final Dividend – Rs. – 3.5000
LAURUSLABS 10-May-23 Interim Dividend – Rs. – 1.2000 SHRIRAMFIN 16-Jun-23 Final Dividend – Rs. – 20.0000
MINDSPACE 10-May-23 Income Distribution RITES HINDUNILVR 19-Jun-23 Final Dividend – Rs. – 22.0000
WELSPUNIND 10-May-23 Buy Back of Shares NEWGEN 20-Jun-23 Final Dividend – Rs. – 5.0000
INDIAMART 11-May-23 Final Dividend – Rs. – 20.0000 SUPREMEIND 21-Jun-23 Final Dividend – Rs. – 20.0000
KKCL 11-May-23 Interim Dividend – Rs. – 2.0000 EMUDHRA 22-Jun-23 Final Dividend – Rs. – 1.2500
SIRCA 11-May-23 Bonus issue 1:1 TATASTEEL 22-Jun-23 Final Dividend – Rs. – 3.6000
360ONE 12-May-23 Interim Dividend DBOL 23-Jun-23 Dividend – Rs. – 3.5000
APTUS 12-May-23 Interim Dividend NATHBIOGEN 23-Jun-23 Final Dividend – Rs. – 2.0000
IRBINVIT 12-May-23 Income Distribution (InvIT) SPLPETRO 27-Jun-23 Final Dividend – Rs. – 7.0000
RISHYRN 12-May-23 E.G.M. WELSPUNIND 27-Jun-23 Final Dividend – Rs. – 0.1000
STEELXIND 12-May-23 E.G.M. BAJAJ-AUTO 30-Jun-23 Final Dividend – Rs. – 140.0000
DRAGARWQ 15-May-23 Interim Dividend BAJAJFINSV 30-Jun-23 Final Dividend – Rs. – 0.8000
TATACOFFEE 15-May-23 Dividend – Rs. – 3.0000 BAJAJHLDNG 30-Jun-23 Final Dividend – Rs. – 13.0000
VISAKAIND 15-May-23 Stock  Split From Rs.10/- to Rs.2/- BAJFINANCE 30-Jun-23 Final Dividend – Rs. – 30.0000
GMBREW 16-May-23 Final Dividend – Rs. – 6.0000 KUANTUM 30-Jun-23 Final Dividend – Rs. – 3.0000
HDFCBANK 16-May-23 Final Dividend – Rs. – 19.0000 MAHSCOOTER 30-Jun-23 Final Dividend – Rs. – 60.0000
FOSECOIND 17-May-23 Final Dividend – Rs. – 25.0000 NAM-INDIA 30-Jun-23 Final Dividend – Rs. – 7.5000
LEX 18-May-23 E.G.M. SYNGENE 30-Jun-23 Final Dividend – Rs. – 0.5000
TATACONSUM 19-May-23 Final Dividend – Rs. – 8.4500 SYNGENE 30-Jun-23 Special Dividend – Rs. – 0.7500

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