The NIFTY opened at 18432.35 with a gap up of 34 points. The index could not sustain at a higher level and started drifting downwards from the opening tick. The index recorded its intraday high at 18432.35 at the open, moved down, and found intraday support around 18350. Prices have formed a narrow trading range there which broke on the downside. Prices have seen another leg of down move that lasted till the end. The NIFTY recorded its intraday low at 18264.35 and finally closed at 18286.50 with a loss of 112.35 points or 0.61% down. All the sectoral indices have closed with a loss today except IT which ended with minor gains. MEDIA and AUTO led the bears today followed by BANK and FINANCIAL. The index made another attempt to break above 18400 but in the end, prices closed well below this level. A breakout from this 200 points range may give us a tradable move. For the time being, we should step aside and avoid trading the index for the carry-forward trades


The BANK NIFTY opened at 44144.15 with a gap up of almost 100 points. The index initially moved down after recording its intraday high at the opening tick and filled the gap. Prices further moved down but found support around 43900 and formed a trading range. The range lasted almost the whole day. However, prices have seen a sharp decline towards the end, recorded its intraday low at 43815.75, and finally closed at 43856 with a loss of 189 points PSU BANK has outperformed today, saw an intraday rally, and closed higher by 0.72%. PVT BANK has underperformed today, saw an intraday decline, and closed with a loss of 0.58%. Within the index, in terms of points, SBIN contributed the highest on the upside while HDFC BANK contributed the lowest. The short-term trend is still up as prices are moving near the top of an ongoing up move and also near the lifetime highs which was recorded at 44151.80. However, the index is finding resistance around this level for the past two days.


COAL INDIA 240.95 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 241.75 with a stop loss of 239.45 and a target of 245.35.
HDFC BANK 1647.30 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1643.95 with a stop loss of 1657.37 and a target of 1623.15.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AUROPHARMA.23.05 May 641.2 4.39 5.38 9561000 RECLTD.23.05 May 133.1 -2.74 8.32 62600000
IDEA.23.05 May 7.4 3.5 1.3 479570000 ABFRL.23.05 May 198.5 -2.67 3.28 29645200
LICHSGFIN.23.05 May 396.5 3.43 20.39 22978000 TORNTPHARM.23.05May 1624.2 -2.64 2.32 1431500
IOC.23.05 May 87.2 3.2 3.08 74080500 JINDALSTEL.23.05 May 562.15 -2.62 6.47 18651250
INDUSTOWER.23.05 May 155.3 2.88 9.34 26684000 PVRINOXLIMITED.23.0M 1435.75 -2.39 0.41 3321934
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BSOFT.23.05 May 328.15 6.03 -10.36 8206000 METROPOLIS.23.05 May 1310.85 -2.87 -0.6 1329600
ASTRAL.23.05 May 1691.95 5.85 -7.61 1440108 BERGEPAINT.23.05 May 612.45 -2.47 -3.82 8478800
INDHOTEL.23.05 May 363.75 2.61 -4.85 22542000 IGL.23.05 May 485.85 -1.93 -3.56 8280250
HAL.23.05 May 3096.7 2.34 -3.73 2625900 TATAMOTORS.23.05May 521.85 -1.9 -6.86 55014975
IEX.23.05 May 159.85 2.3 -3.83 36723750 M&M.23.05 May 1262.95 -1.83 -5.12 13770400
Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Bharat Forge Ltd 769.3 0.33 1204503 1475619 78.13 Nifty50 18286.5 -0.61 30761430
Mahindra & Mahindra Fina 283.9 0.11 3698602 2510067 76.85 Niftybank 43903.7 -0.38 12828528
Nestleind 21780.4 -0.03 77257 55709 76.77 Nifty it 28216 0.18 686109
Power Grid Corporation o 240.6 -1.09 8563882 6779949 74.17 India Vix 13.29 0.91 424295052
Sbi Life Insurance Compa 1180.75 -0.73 926172 497664 73.13 Nifty Fmcg 49406.1 -0.2 331479
Mah & Mah Ltd. 1262.45 -1.8 1571371 1935599 73.11 Nifty Pharma 12454.5 -0.26 45153746
Shriram Finance Limited 1328.6 -0.9 1007426 480733 72.53 Nifty Realty 472.1 -0.07 1189285963
Upl Limited 672.85 -0.46 1866298 1761883 72.42 Nifty Auto 13877.7 -0.93 40434852
Container Corp Of India 643.2 -0.56 903952 536752 71.69 Nifty Metal 5683.45 -0.32 98850215
Hindustan Unilever Ltd 2675.9 0.51 1477905 1103359 70.68 Nifty Financial Services 19439 -0.74 6129522


   Domestic                                                                                                                                                  International
INR: M3 Money Supply on 17th May, 2023

INR: Bank Loan Growth on 19th May, 2023

 USD: Building Permits (Apr) on 17th May, 2023

USD: Crude Oil Inventories on 17th May, 2023


  • Benchmark indices ended lower on May 16 with Nifty below 18,300. At close, the Sensex was down 413.24 points or 0.66percentat 61,932.47, and the Nifty was down 112.30 points or 0.61percentat 18,286.50. About 1,790 shares advanced, 1,627 shares declined, and 132 shares were unchanged.

  • Bank of Baroda (BOB) on May 16 announced its results for the quarter ending March 2023. The bank reported its highest-ever quarterly net profit of Rs 4,775 crore, recording a 168 percent year-on-year rise.

  • Indian Oil Corp Ltd on May 16 reported 67 percent year-on-year jump in standalone net profit to Rs 10,059 crore for the quarter ended March 2023. Net profit stood at Rs 6,021 crore in the year-ago period.

  • Tesla execs to visit India in effort to strengthen supply chain amid diversification beyond China. The discussions will revolve around the possibility of local sourcing of components for Tesla’s car models, as the company looks beyond China.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
7NR Audited Results 17-May-23 INDOAMIN Audited Results 17-May-23
ACKNIT Audited Results;Final Dividend 17-May-23 IYKOTHITE Audited Results 17-May-23
AMRAFIN Audited Results;General;Half Yearly Results 17-May-23 JINDALSAW Audited Results;Final Dividend 17-May-23
ANMOL Audited Results 17-May-23 JKTYRE Audited Results;Dividend 17-May-23
ANUP Audited Results;Final Dividend 17-May-23 JSL Audited Results;Final Dividend 17-May-23
ARCHIDPLY Audited Results 17-May-23 JSWISPL Audited Results;General 17-May-23
AVANTEL A.G.M.;Final Dividend 17-May-23 JUBLFOOD Audited Results;Final Dividend 17-May-23
BCONCEPTS Audited Results 17-May-23 JYOTIRES Quarterly Results;Interim Dividend 17-May-23
BDH Audited Results;Quarterly Results;Final Dividend 17-May-23 KIRANVYPAR Audited Results;Final Dividend 17-May-23
BTML Increase in Authorised Capital;General 17-May-23 KUMPFIN Audited Results 17-May-23
CHEMIESYNT Audited Results 17-May-23 LNIND General 17-May-23
CTL Audited Results 17-May-23 MEDINOV Audited Results 17-May-23
DEEPAKFERT Audited Results;Dividend 17-May-23 MIDEASTP Audited Results 17-May-23
DEVYANI Audited Results 17-May-23 MMFL Audited Results;Interim Dividend 17-May-23
DGCONTENT Audited Results 17-May-23 MONOT General 17-May-23
DMCC Audited Results;Quarterly Results;General 17-May-23 MTARTECH A.G.M.;Audited Results;General 17-May-23
DUGARHOU Audited Results 17-May-23 NLFL Audited Results 17-May-23
ELECTCAST Final Dividend;Audited Results 17-May-23 PARADEEP Audited Results;Final Dividend 17-May-23
ENDURANCE Audited Results;Dividend 17-May-23 PERFEPA Audited Results 17-May-23
ERIS Audited Results 17-May-23 PERMAGN Audited Results;Final Dividend 17-May-23
FACORALL Audited Results 17-May-23 PHOSPHATE General 17-May-23
FMNL Audited Results;General 17-May-23 POLYCHEM Audited Results;Final Dividend 17-May-23
GICHSGFIN Audited Results;General;Final Dividend 17-May-23 PUROHITCON Audited Results;Quarterly Results 17-May-23
GLAXO Audited Results;Final Dividend 17-May-23 QUESS Audited Results 17-May-23
GTL Audited Results 17-May-23 RAILTEL Audited Results 17-May-23
HESTERBIO Audited Results;Final Dividend 17-May-23 RAMAVISION Quarterly Results 17-May-23
HINFLUR Audited Results;General 17-May-23 RAMCOSYS Audited Results;General 17-May-23
HITECHCORP Audited Results;Final Dividend 17-May-23 RBA Audited Results 17-May-23
HONAUT Audited Results;Final Dividend 17-May-23 RCL Audited Results 17-May-23
INDICAP Audited Results 17-May-23 RECLTD Audited Results 17-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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