The NIFTY opened at 1711180 with a gap up of 126 points. The index could not sustain at the higher levels and started drifting downwards after the opening tick. Prices have recorded its intraday high at 17145.80 in its initial trades, filled the gap quickly, and then started a consolidation process. The index broke down but soon found support again. The NIFTY started moving higher after recording its intraday low at 16958.15 and almost reached the opening tick. The index finally closed at 17100.05 with a gain of 114.45 points or 0.67% up. REALTY and METAL outperformed today and closed with a gain of 3.03% & 2.39% followed by BANK, FINANCIAL & IT. MEDIA PHARMA, AUTO, and FMCG underperformed today and closed with a loss. The short-term trend is down. On the weekly timeframe chart, the NIFTY has recorded a wide range of days and ended the week negatively. The weekly candle made a long lower shadow suggesting a pullback in the coming week. The volatility is now cooling off as the INDIA VIX moved down today and is moving below level 15, supporting the bulls. We are expecting a relief rally or a brief consolidation here. We should look for a trading opportunity on an intraday basis.


The BANK NIFTY opened at 39442.40 with a gap up of 232 points. The index initially moved lower and filled the gap quickly. Prices moved further on the downside and then found support around 39000. The index recorded its intraday low at 38926.80 and then started moving higher. Prices breaks above early morning highs and recorded its intraday high at 39699.85. The index finally closed at 39688.95 with a gain of 478 points. PVT and PSU BANKS both indices have performed almost the same today, saw an intraday rally, and closed with a gain of 1.13% & 0.83% respectively Within the index, in terms of points, HDFC BANK contributed the highest on the upside while IDFC FIRST BANK contributed the lowest. On the weekly timeframe chart, the index ended this week on a negative note. However, prices have made a long lower shadow suggesting there are buyers on the lower levels and we may see some upside move in the coming week. Support is visible around 38500 while resistance is visible around 40000. The trend is still down and the volatility is also high. We should avoid taking carry-forward trade as far as the index is trading within these two levels and shift our focus to intraday trading only.


CHOLAMANDALAM INVESTMENT 763.70 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 766.25 with a stop loss of 754.80 and a target of 789.20.
BALKRISHNA IND 1962.55 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1951.45 with a stop loss of 1989.45 and a target of 1878.80.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ITC  385 CE SELL 2.75 CMP 4.40 1 BREAKDOWN
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
ABCAPITAL.23.03 Mar 154.7 3.65 8.84 35040600 BIOCON.23.03 Mar 207.75 -6.9 18.01 41947400
HAL.23.03 Mar 2790.55 2.79 1.23 3045600 M&MFIN.23.03 Mar 236.75 -2.67 4.62 24200000
GMRINFRA.23.03 Mar 42.95 2.75 3.41 130185000 INDIACEM.23.03 Mar 189.4 -2.19 5.54 15039400
LTIM.23.03 Mar 4693.65 2.54 0.93 1174950 LALPATHLAB.23.03 Mar 1837.45 -2.13 4.25 822250
HDFCLIFE.23.03 Mar 474 2.2 0.4 23294700 EICHERMOT.23.03 Mar 2991.55 -1.7 1.08 2988125
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DLF.23.03 Mar 376.5 4.01 -4.51 41297850 PETRONET.23.03 Mar 234 -1.85 -1.91 13437000
INTELLECT.23.03 Mar 418.45 3.73 -5.49 4216000 INDUSTOWER.23.03 Mar 151.15 -1.63 -3.58 26502000
JINDALSTEL.23.03 Mar 575.4 3.45 -3.05 16832500 BERGEPAINT.23.03 Mar 595.45 -1.59 -2.31 6935500
HCLTECH.23.03 Mar 1111.45 3.38 -0.77 10805900 LUPIN.23.03 Mar 660.75 -1.22 -1.84 6981900
SAIL.23.03 Mar 87.9 3.17 -0.47 103552000 SHREECEM.23.03 Mar 25172.5 -1.2 -4.31 341200


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Itc Ltd. 375.55 -1.55 48904254 12278731 78.16 Nifty50 17100.05 0.67 38084343
Marico Limited 486.1 -0.51 2448223 858545 77.72 Niftybank 39598.1 1.19 16465232
Hero Motocorp Limited 2355.15 -0.67 628419 430004 74.45 Nifty it 28854.45 1.18 1980933
Bharti Airtel Limited 757.25 1.51 9306857 5510241 73.81 India Vix 14.77 -8.94 420714304
Power Grid Corporation o 229.7 -1.06 25283269 10059871 72.75 Nifty Fmcg 44858.3 -0.25 847652
Ultratech Cement Limited 7289.95 2.61 383505 334040 72.65 Nifty Pharma 11676.15 -0.57 55531591
Hdfc Ltd. 2564.15 1.29 4979214 2765696 70.18 Nifty Realty 399 3.03 1641482429
Samvardhana Motherson 67.8 -1.02 28490207 291141724 69.33 Nifty Auto 12245.95 -0.48 52879198
Tata Consultancy Serv Lt 3179.3 -0.18 6739966 1312156 69.02 Nifty Metal 5602.6 2.39 116533909
Infosys Limited 1420.7 1.18 9090018 5020178 68.55 Nifty Financial Services 17671.4 1.19 5413202


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Feb) 31st March, 2023

INR: Infrastructure Output (YoY) (Feb) 31st March, 2023

 USD: Existing Home Sales (Feb) on 21st March, 2023

USD: Fed Interest Rate Decision on 22nd March, 2023


  • Benchmark indices ended higher in the volatile session on March 17 with Nifty at 17,100. At close, the Sensex was up 355.06 points or 0.62% at 57,989.90, and the Nifty was up 114.40 points or 0.67% at 17,100. About 2008 shares advanced, 1407 shares declined, and 118 shares unchanged.

  • Shares of Nykaa owner FSN E-Commerce Ventures rose 3 percent on Friday after bulk deals totaling 6.57 million shares or 0.23 percent equity worth Rs 93.2 crore at Rs 141.90 apiece.

  • There was some rebound in metal stocks on March 17 after Thursday’s selloff. Investors rushed to buy steel stocks today with steel manufacturers signing contracts with the Government for PLI scheme.

  • The National Company Law Tribunal (NCLT) on March 17 approved the merger of HDFC and HDFC Bank, which is deemed to be the biggest merger in corporate history. India’s largest housing finance company HDFC Ltd will merge with country’s largest private lender HDFC Bank to create a banking behemoth.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ANANDRATHI General 20-Mar-23 SBICARD Interim Dividend 21-Mar-23
BCONCEPTS Employees Stock Option Plan;Interim Dividend;General 20-Mar-23 SHRINIWAS Right Issue of Equity Shares;General 21-Mar-23
BRANDBUCKT Increase in Authorised Capital 20-Mar-23 TWL Employees Stock Option Plan 21-Mar-23
CINEVISTA General 20-Mar-23 ASSOCER General 22-Mar-23
DATASOFT Quarterly Results;Audited Results 20-Mar-23 UNICK General 22-Mar-23
DWARKESH Interim Dividend 20-Mar-23 ZDHJERK General 22-Mar-23
GFIL General 20-Mar-23 AARTECH General 23-Mar-23
INDSOYA General 20-Mar-23 METROBRAND General 23-Mar-23
JOINDRE General 20-Mar-23 RADHIKAJWE Stock  Split 23-Mar-23
LOKESHMACH General 20-Mar-23 RNBDENIMS General 23-Mar-23
MKVENTURES Right Issue of Equity Shares 20-Mar-23 SKIFL General 23-Mar-23
NIHARINF Preferential Issue of shares;General 20-Mar-23 WARDINMOBI General 24-Mar-23
SBGLP General 20-Mar-23 CONCORD General 27-Mar-23
SYLPH Stock  Split;General 20-Mar-23 MYSPAPE Quarterly Results 27-Mar-23
ANUBHAV Increase in Authorised Capital;Issue Of Warrants;General 21-Mar-23 GAL Preferential Issue of shares;Issue Of Warrants;General 28-Mar-23
ARAMBHAN General 21-Mar-23 IFCI Preferential Issue of shares 28-Mar-23
CILSEC General 21-Mar-23 ADROITINFO A.G.M. 29-Mar-23
CORNE Right Issue of Equity Shares;Increase in Authorised Capital;General 21-Mar-23 EMAMIREAL General 31-Mar-23
CRANESSOFT Quarterly Results 21-Mar-23 EMPOWER Consolidation of Shares;General 04-Apr-23
HIMATSEIDE General 21-Mar-23 INFY Final Dividend;Audited Results 13-Apr-23
HINDZINC Interim Dividend 21-Mar-23 COFORGE Audited Results;Interim Dividend 27-Apr-23
INDOWIND General 21-Mar-23 ULTRACEMCO Final Dividend;Audited Results 28-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CSL 20-Mar-23 Stock  Split From Rs.10/- to Rs.2/- GROWINGTON 24-Mar-23 Bonus issue 24:100
HAL 20-Mar-23 Interim Dividend – Rs. – 20.0000 SAIL 24-Mar-23 Interim Dividend – Rs. – 1.0000
SRUSTEELS 20-Mar-23 Interim Dividend – Rs. – 0.1000 STYRENIX 24-Mar-23 Interim Dividend – Rs. – 80.0000
UJJIVAN 20-Mar-23 Interim Dividend – Rs. – 5.0000 SUNCLAYLTD 24-Mar-23 Scheme of Arrangement
AFEL 21-Mar-23 Right Issue of Equity Shares VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
AGIIL 21-Mar-23 Interim Dividend – Rs. – 1.0000 VKAL 24-Mar-23 E.G.M.
GAIL 21-Mar-23 Interim Dividend – Rs. – 4.0000 BHARATAGRI 29-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
HUDCO 21-Mar-23 Interim Dividend – Rs. – 0.7500 HINDZINC 29-Mar-23 Interim Dividend
KAMAHOLD 21-Mar-23 Interim Dividend – Rs. – 84.0000 SBICARD 29-Mar-23 Interim Dividend
KDDL 21-Mar-23 Interim Dividend – Rs. – 2.0000 SYMPHONY 29-Mar-23 Buy Back of Shares
MCLOUD 21-Mar-23 Bonus issue 3:1 CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000
NATIONALUM 21-Mar-23 Interim Dividend – Rs. – 2.5000 DWARKESH 31-Mar-23 Interim Dividend
PODARPIGQ 21-Mar-23 Interim Dividend – Rs. – 3.5000 SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
STANCAP 21-Mar-23 E.G.M. HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
SUNTV 21-Mar-23 Interim Dividend – Rs. – 2.5000 JETINFRA 21-Apr-23 Bonus issue 1:1
MIDHANI 23-Mar-23 Interim Dividend – Rs. – 1.6800 NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
ABSLAMC 24-Mar-23 Interim Dividend – Rs. – 5.0000 VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
AJANTPHARM 24-Mar-23 Buy Back of Shares ABB 27-Apr-23 Dividend – Rs. – 5.5000
BEL 24-Mar-23 Interim Dividend KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
GLS 24-Mar-23 Interim Dividend – Rs. – 21.0000 SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000

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