The NIFTY opened at 19820.45 without much of a gap. The index initially moved down but quickly bounced and came into positive territory but could not last long there and drifted downwards. Prices recorded its intraday high at 19840.95, saw a sharp down move till the afternoon, and then started a process of recovery. The rally again did not last long and prices again moved down towards the end. The index recorded its intraday low at 19659.95 and finally closed at 19671.10 near its day lows with a loss of 140.10 points or 0.71% down. All the sectoral indices have closed with a loss except PHARMA and AUTO. BANK and FINANCIAL led the bears and closed with a loss of more than 1% followed by OIL GAS, METAL, and IT. The short-term trend is sideways and there is no doubt about that as the index has been moving sideways for almost a month. We have been tracking support is around 19500 while resistance is around 19850.


The BANK NIFTY opened at 44404.20 without much of a gap. The index started moving downwards from its opening price, saw a minor rally, and then again resumed moving downwards. The index started a consolidation process in the afternoon that lasted almost till the end. Prices have recorded its intraday high at 44412.50 just above the opening tick, its intraday low at 43861.45, and finally closed at 43894.45 with a loss of 547 points. PSU and PVT BANK, both indices have performed almost the same, saw a sharp intraday decline, and closed with a loss of 167% & 1.17% respectively. Within the index, in terms of points, HDFC BANK contributed the highest on the downside followed by ICICI BANK. The short-term trend remained sideways as the index has been moving inside a 1000 points trading range for the past one month with support around 43800 and resistance around 44800. Since the range is very narrow so we may see a breakdown very soon.


HDFC LIFE INSURANCE 645.00 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 646.05 with a stop loss of 643.10 and a target of 652.90.
AXIS BANK 1519.75 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 989.30 with a stop loss of  995.05 and a target of 977.80.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE  2300 CE BUY 13.80 CMP 10.40 20.65 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CIPLA.23.10 Oct 1217.8 3.62 18.89 10958350 LTTS.23.10 Oct 4364.65 -5.73 43.39 908800
MARUTI.23.10 Oct 10802 0.51 9.34 3156300 SYNGENE.23.10 Oct 728.25 -6.64 34.48 5297000
SUNTV.23.10 Oct 661 2.51 8.16 8605500 FINNIFTY.23.10 Oct 19774.05 -1.03 29.97 91600
ONGC.23.10 Oct 186.85 0.19 7.06 47832400 BANKNIFTY.23.10 Oct 44044.6 -1.01 29.06 2713470
CUB.23.10 Oct 139.95 0.29 4.85 41915000 ABB.23.10 Oct 4108.45 -4.25 23.88 1317500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INFY.23.10 Oct 1427.8 0.11 -3.55 20457200 MCDOWELL-N.23.10 Oct 1057 -2.97 -0.13 9194500
HINDALCO.23.10 Oct 485.6 0 -2.97 23319800 IDEA.23.10 Oct 11.7 -2.5 -0.15 1318480000
BALRAMCHIN.23.10 Oct 423.6 0.18 -1.6 10939200 BHEL.23.10 Oct 129.2 -2.45 -1.16 98217000
SBILIFE.23.10 Oct 1357.95 0.59 -1.24 6315750 NMDC.23.10 Oct 161.7 -2.18 -0.76 97992000
SHREECEM.23.10 Oct 26745 0.05 -1.23 196350 RECLTD.23.10 Oct 288.7 -2.12 -2.25 55912000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Atul Ltd. 6832 -0.75 59450 44871 76.73 Nifty50 19671.1 -0.71 79191
Crompton Greaves Consume 297.85 -0.73 2582827 1888742 75.08 Niftybank 43888.7 -1.17 71604
Syngene 727.3 -6.68 7320015 668618 74.92 Nifty it 31606.65 -0.59 71604
Biocon Limited 238.65 -6.38 13082442 2236786 74.57 India Vix 10.96 2.43 71718
Larsen & Toubro Limited 3045.6 -0.68 1350839 1365980 73.95 Nifty Fmcg 52442.05 -0.42 71604
Torrent Pharma Ltd. 1917 -0.24 405999 221599 73.78 Nifty Pharma 15331.3 0.78 71604
Gujgasltd 419.85 -1.71 2255046 1073787 73.02 Nifty Realty 608.05 -0.47 71604
Tata Consultancy Serv Lt 3487.25 -0.56 1408245 1200270 71.78 Nifty Auto 16535.4 0.08 71604
Hindustan Unilever Ltd 2548.25 -0.31 1084689 898747 71.7 Nifty Metal 6863.4 -0.56 71604
Alkem 3626.1 0.16 177578 87088 70.88 Nifty Financial Services 19687.2 -1.28 71604

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: Bank Loan Growth on 20th October, 2023

INR: FX Reserves, USD on 20th October, 2023

USD: Initial Jobless Claims on 19th October, 2023

USD: Existing Home Sales (Sep) on 19th October, 2023

News Updates

  • Benchmark indices ended on a weaker note on October 18 with Nifty below 19,700. At close, the Sensex was down 551.07 points or 0.83 percent at 65,877.02, and the Nifty was down 140.40 points or 0.71 percent at 19,671.10. About 1424 shares advanced, 2144 shares declined, and 137 shares unchanged.

  • ITC Ltd is likely to report a healthy 10.5 percent year-on-year (YoY) growth in net profit in Q2 FY24, primarily led by sales of cigarettes, price hikes in FMCG products, and strong demand in the hotels segment. The cigarette and FMCG company will announce its Q2FY24 earnings on October 19.

  • James Sullivan, Managing Director, Asia Pacific Equity Research at JPMorgan, in an interview with CNBC-TV18 predicted India would become the third largest economy over the next few years, and said the size of the Indian economy would double to $7 trillion by 2030.

  • Hindustan Unilever (HUL) is expected to see a mild revenue growth in Q2FY24 as inflation woes limited volume growth in the quarter. However, the FMCG giant’s net profit is expected to fall as price cuts, royalty payments, and ad spends hit margin expansion. HUL will announce its quarterly result on October 19.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AARTIDRUGS Audited Results;Quarterly Results 19-Oct-23 MODWOOL Quarterly Results 19-Oct-23
ACCELYA Quarterly Results 19-Oct-23 MPHASIS Quarterly Results 19-Oct-23
ACL Quarterly Results 19-Oct-23 NESTLEIND Interim Dividend;Stock  Split;Quarterly Results 19-Oct-23
AKI Preferential Issue of shares;General 19-Oct-23 NILACHAL General;A.G.M. 19-Oct-23
ASHIS Preferential Issue of shares 19-Oct-23 PRERINFRA General 19-Oct-23
ATFL Quarterly Results 19-Oct-23 PRISMX General 19-Oct-23
COFORGE Interim Dividend;Quarterly Results 19-Oct-23 PVRINOX Quarterly Results;General 19-Oct-23
CYIENT Interim Dividend;Quarterly Results 19-Oct-23 RAMAPPR-B General 19-Oct-23
EQUITASBNK Quarterly Results 19-Oct-23 RKFORGE Interim Dividend;Quarterly Results;General 19-Oct-23
FMEC Preferential Issue of shares;General 19-Oct-23 SAGCEM Quarterly Results;General 19-Oct-23
GANESHHOUC Quarterly Results 19-Oct-23 SATIN General 19-Oct-23
GSLSU Preferential Issue of shares;Issue Of Warrants 19-Oct-23 SHANGAR Right Issue of Equity Shares 19-Oct-23
HATSUN Quarterly Results 19-Oct-23 SKYGOLD Preferential Issue of shares;Increase in Authorised Capital;Issue Of Warrants 19-Oct-23
HAVELLS Quarterly Results 19-Oct-23 SOUTHBANK Quarterly Results 19-Oct-23
HFCL Quarterly Results 19-Oct-23 SPECIALITY General 19-Oct-23
HINDUNILVR Interim Dividend;Quarterly Results 19-Oct-23 TANLA Quarterly Results 19-Oct-23
INDOCO Quarterly Results 19-Oct-23 TATACOFFEE Quarterly Results 19-Oct-23
ITC Quarterly Results 19-Oct-23 TATACOMM Quarterly Results 19-Oct-23
JSL Interim Dividend;Quarterly Results 19-Oct-23 UBL Quarterly Results 19-Oct-23
KIRLPNU Quarterly Results 19-Oct-23 UDS Quarterly Results 19-Oct-23
MASTEK Quarterly Results 19-Oct-23 UHZAVERI Increase in Authorised Capital;Quarterly Results;General 19-Oct-23
METROBRAND Quarterly Results;General 19-Oct-23 ULTRACEMCO Quarterly Results 19-Oct-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BCONCEPTS 19-Oct-23 Final Dividend – Rs. – 0.5000 LTTS 27-Oct-23 Interim Dividend – Rs. – 17.0000
RITCO 19-Oct-23 E.G.M. SHASHIJIT 27-Oct-23 Stock  Split From Rs.10/- to Rs.2/-
SEMAC 19-Oct-23 Final Dividend – Rs. – 5.0000 SVRL 27-Oct-23 Bonus issue 1:1
TCS 19-Oct-23 Interim Dividend – Rs. – 9.0000 TALBROAUTO 27-Oct-23 Stock  Split From Rs.10/- to Rs.2/-
ANANDRATHI 20-Oct-23 Interim Dividend – Rs. – 5.0000 RKFORGE 30-Oct-23 Interim Dividend
ANGELONE 20-Oct-23 Interim Dividend – Rs. – 12.7000 UNJHAFOR 30-Oct-23 E.G.M.
DALBHARAT 20-Oct-23 Interim Dividend – Rs. – 4.0000 BALKRISIND 31-Oct-23 Interim Dividend
HCLTECH 20-Oct-23 Interim Dividend – Rs. – 12.0000 DRAGARWQ 31-Oct-23 Interim Dividend
KPIGREEN 20-Oct-23 Interim Dividend – Rs. – 0.2500 ELECON 31-Oct-23 Interim Dividend
NEOGEN 20-Oct-23 E.G.M. SASKEN 31-Oct-23 Interim Dividend
VINNY 23-Oct-23 E.G.M. STYRENIX 31-Oct-23 Interim Dividend
INFY 25-Oct-23 Interim Dividend – Rs. – 18.0000 AUTOINT 01-Nov-23 E.G.M.
JAYBARMARU 26-Oct-23 Stock  Split From Rs.5/- to Rs.2/- NESTLEIND 01-Nov-23 Interim Dividend
KSOLVES 26-Oct-23 Interim Dividend – Rs. – 7.0000 ABHIJIT 02-Nov-23 E.G.M.
TCIEXP 26-Oct-23 Interim Dividend – Rs. – 3.0000 HINDUNILVR 02-Nov-23 Interim Dividend
ASTRAL 27-Oct-23 Interim Dividend ASIANPAINT 03-Nov-23 Interim Dividend
AURIONPRO 27-Oct-23 E.G.M. BNALTD 03-Nov-23 E.G.M.
BCLIL 27-Oct-23 Stock  Split From Rs.10/- to Rs.1/- EMBASSY 03-Nov-23 Income Distribution RITES
ICICIGI 27-Oct-23 Interim Dividend COLPAL 06-Nov-23 Interim Dividend
ISEC 27-Oct-23 Interim Dividend – Rs. – 12.0000 SHRIRAMFIN 06-Nov-23 Interim Dividend
JSL 27-Oct-23 Interim Dividend MARICO 07-Nov-23 Interim Dividend
LTIM 27-Oct-23 Interim Dividend TCI 07-Nov-23 Interim Dividend

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