The NIFTY opened at 21033.95 with a big gap down of 117 points. The index recorded its intraday low at 20976.80 in its early trades and bounced up sharply. A sharp rally came and prices have soon filled the gap to come in positive territory. Prices then started moving range bound which eventually broke higher and prices again moved up. The index found resistance in the second half, recorded its intraday high at 21288.35, and again formed a range. The NIFTY finally closed at 21255.05 near its day’s high with a gain of 104.90 points or 0.50% up. The short-term trend is sideways now. We have been tracking a support level of around 21000. Prices have respected this level and bounced up. Resistance is now visible around 21600. The index has formed a trading range within these two levels. The markets are going through a process of consolidation. For the time being, we should step aside and avoid trading the index. Wait for an adequate trading setup to emerge.


the BANK NIFTY opened at 47172.45 with a gap down of 44 points. The index initially moved lower but soon found support and turned up after recording its intraday low at 46919.70. A sharp rally came that lasted till the end. Prices have seen a sharp dip in the afternoon that found support quickly and the index rallied with more pace afterward. Prices have recorded its intraday high at 47932.40 towards the end and finally closed at 47852.70 with a gain of 636 points. BANK NIFTY takes a U-Turn after one day of a sharp correction. After early morning weakness, prices inched higher as the day progressed and ended the session near its day’s high. The intraday range was again very wide as prices have traveled within a range of over 1000 points. The short-term trend is sideways. Prices have held 47000 levels and now this is acting as a support. Resistance is visible around 48200 at its lifetime high. On the daily timeframe chart, a trading range is now visible within these support and resistance levels. Since the last two days were very wide, the coming few days may be narrow and choppy. The index is now going through a process of consolidation. As of now, we should step aside and avoid trading the index.


INDUSINDBK 1575.65 BUY Intermediate and short-term trends are up in INDUSINDBK. The stock has seen a sharp upside move and then started a process of consolidation. Prices have formed a trading range and are now trading on the verge of a breakout. Traders should look for a buying opportunity above 1580 with a stop just below 1562 and a target around 1616.
LT 3445 BUY Intermediate and short-term trends are up in LT. The stock has seen a sharp upside move and then started a process of correction. That correction found support around 3400 and prices bounced up. We may see an upside move here. Traders should look for a buying opportunity above 3450 with a stop just below 3420 and a target around 35 10.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IRCTC.23.12 Dec 871.75 6.89 1.88 12655125 BAJFINANCE.23.12 Dec 7390.7 -1.42 2.03 5832875
GMRINFRA.23.12 Dec 73.45 2.73 2.57 1.48E+08 AXISBANK.23.12 Dec 1103.95 -0.86 1.74 45006250
RECLTD.23.12 Dec 414 1.98 0.54 34806000 CIPLA.23.12 Dec 1225.6 -0.76 0.79 9132500
COROMANDEL.23.12 Dec 1208.7 1.62 20.08 1105300 MARICO.23.12 Dec 529.1 -0.71 1.27 9363600
LTIM.23.12 Dec 6135.65 1.46 3.12 1155450 CHOLAFIN.23.12 Dec 1227 -0.67 8.19 10699375
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
METROPOLIS.23.12 Dec 1713.5 7.44 -1.37 1125200 CUB.23.12 Dec 149.75 -3.79 -0.28 26350000
NATIONALUM.23.12 Dec 111.65 6.79 -1.95 58680000 BAJAJ-AUTO.23.12 Dec 6269 -1.51 -3.14 2063875
SAIL.23.12 Dec 109.6 5.59 -0.57 127120000 HCLTECH.23.12 Dec 1430 -1.05 -3.57 11883900
LALPATHLAB.23.12 Dec 2603.45 5.07 -2.82 1074600 BATAINDIA.23.12 Dec 1627.9 -0.61 -0.06 1358625
BHEL.23.12 Dec 180.2 4.52 -1.99 75117000 BAJAJFINSV.23.12 Dec 1675.9 -0.58 -0.74 7697000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Cholamandalam Investment 1228.05 -0.9 1781569 1814245 71.84 Nifty50 21255.05 0.5 46266168
Pidilite Industries Ltd 2616.1 1.23 201946 420596 70.35 Niftybank 47840.15 0.83 20572199
Larsen & Toubro Limited 3424.15 0.17 2292802 1297137 69.14 India Vix 13.76 -4.78 688878254
Godrej Cons Products Ltd 1072.9 2.15 2398325 1047951 68.67 Nifty Fmcg 54803.3 0.38 629116
Hindustan Unilever Ltd 2553.2 -0.17 1945695 1004793 68.42 Nifty Pharma 16238.15 0.73 60566272
Icici Prudential Life In 518.95 1.89 1730872 1656322 68.16 Nifty Auto 17537.85 0.08 56002170
Bajaj Auto Limited 6246.35 -1.86 397717 257166 66.65 Nifty Financial Services 21326 0.59 5600086
Hdfc Bank Ltd. 1686.7 1.79 18294620 11401194 66.61 Nifty Metal 7524 1.38 131037352
Dabur India Ltd. 530.25 -0.88 6150231 2446146 66.37 Nifty Realty 744.1 0.92 1323666618
Hdfc Life Insurance Comp 644.2 0.02 2755102 2501958 66.32 Nifty it 34846.05 0.3 963759

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: GDP (QoQ) (Q3) on 29th December, 2023

INR: Current Account (USD) (Q3) on 29th December, 2023

USD: New Home Sales (Nov) on 22nd December, 2023

USD: Core PCE Price Index (MoM) (Nov) on 22nd December, 2023

News Updates

  • Benchmark indices ended in the green in the highly volatile session on December 21. At close, the Sensex was up 358.79 points or 0.51 percent at 70,865.10, and the Nifty was up 104.80 points or 0.50 percent at 21,255. About 2419 shares advanced, 834 shares declined, and 72 shares unchanged.

  • The Mumbai police enforced Section 144 of the Criminal Procedure Code (CrPC) from December 20 to January 18. According to reports, the police received inputs from intelligence agencies about potential terror strikes, especially targeting VVIPs.

  • A prolonged blockage of the Suez Canal, one of the world’s most vital trade routes, could erode India Inc’s earnings as global freight costs may rise significantly and stoke inflation, analysts said. In a December 19 report, CNBC reported that cargo worth around $35 billion had been diverted, with around 57 cargo ships changing their route as major shipping corporations announced their decision to pause movements through the Suez Canal route after the recent attacks on ships passing through the area by Yemen-based Houthi rebels, backed by Iran.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AAVAS General 22-Dec-23 ZIMLAB Employees Stock Option Plan 23-Dec-23
ACEMEN General 22-Dec-23 KALYANI Half Yearly Results 25-Dec-23
AKSHAR Interim Dividend;Bonus issue;Buy Back of Shares 22-Dec-23 LORDSHOTL General 25-Dec-23
ARMANFIN General 22-Dec-23 SANJIVIN Issue Of Warrants;Preferential Issue of shares 25-Dec-23
GUJARATPOLY General 22-Dec-23 ABHICAP General 26-Dec-23
HAWKINCOOK General 22-Dec-23 AMIC Half Yearly Results 26-Dec-23
JKTYRE General 22-Dec-23 CROISSANCE General 26-Dec-23
NITINFIRE Quarterly Results 22-Dec-23 DYNAMICP General 26-Dec-23
SINCLAIR Bonus issue 22-Dec-23 JAMESWARREN General 26-Dec-23
UPL Rights Issue;Preferential Issue of shares 22-Dec-23 JLL General 26-Dec-23
YOGI Increase in Authorised Capital;Issue Of Warrants;General 22-Dec-23 PRAVEG Issue Of Warrants;Preferential Issue of shares;General 26-Dec-23
ALSL General 23-Dec-23 SAICOM General 26-Dec-23
BIZOTIC General 23-Dec-23 TANAA Preferential Issue of shares 26-Dec-23
BRIJLEAS General 23-Dec-23 ALFREDHE General 27-Dec-23
GEE Quarterly Results 23-Dec-23 GVFILM Issue Of Warrants 27-Dec-23
GOWRALE General 23-Dec-23 KINGSINFR General 27-Dec-23
KBCGLOBAL Quarterly Results;General 23-Dec-23 SOUTHBANK General 27-Dec-23
NDMETAL General 23-Dec-23 TITANIN General 27-Dec-23
ORISSAMINE General 23-Dec-23 PANORAMA Preferential Issue of shares 28-Dec-23
POOJAENT General 23-Dec-23 RTFL General 28-Dec-23
SSLFINANCE Issue Of Warrants 23-Dec-23 TRELCHE-B General 29-Dec-23
VSL General 23-Dec-23 SUKHJITS Interim Dividend 03-Jan-24

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALPHALOGIC 22-Dec-23 Bonus issue 1:3 RSYSTEMINT 22-Dec-23 Interim Dividend – Rs. – 6.8000
AXITA 22-Dec-23 Bonus issue 1:3 SMAUTO 22-Dec-23 Buy Back of Shares
CMBL 22-Dec-23 E.G.M. SMLT 22-Dec-23 Interim Dividend – Rs. – 1.0000
DIGIFIBRE 22-Dec-23 Income Distribution (InvIT) NMSRESRC 27-Dec-23 E.G.M.
GENNEX 22-Dec-23 E.G.M. VEDL 27-Dec-23 Interim Dividend – Rs. – 11.0000
ISCITRUST 22-Dec-23 Income Distribution (InvIT) CMMHOSP 28-Dec-23 E.G.M.
KLRFM 22-Dec-23 Dividend – Rs. – 2.0000 PIFL 28-Dec-23 E.G.M.
PGCRL 22-Dec-23 E.G.M. CANFINHOME 29-Dec-23 Interim Dividend – Rs. – 2.0000
RAJESHEXPO 22-Dec-23 Dividend – Rs. – 1.0000 HMAAGRO 29-Dec-23 Stock  Split From Rs.10/- to Rs.1/-
RAWEDGE 22-Dec-23 E.G.M. STANCAP 29-Dec-23 Bonus issue 2:1

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