NIFTY:
The NIFTY opened at 19369 with a gap down of 65 points. The index initially moved lower for the first five minutes of trading but soon found support and bounced up sharply Prices have recorded its intraday low at 19317.20 and slowly inched higher. The gap was filled and prices started a process of consolidation which eventually broke on the upside. A sharp rally came toward the end of trading session followed by a minor decline. The index finally closed at 19465 near the previous day’s closing price with a gain of just 30.45 points or 0.16% up. REALTY and MEDIA outperformed and closed with a gain of over 1% followed by AUTO, PHARMA, and IT. METAL underperformed and ended with a loss of nearly 15% followed by BANK and FINANCIAL. The short-term trend is sideways. We have been tracking support around 19300 and resistance around 19700. The NIFTY is holding the support level for the past two trading days. It is very likely that the index may hold this level. The support level is very strong as the index respected this on numerous occasions.
BANK NIFTY:
The BANK NIFTY opened at 43726.25 with a big gap down of 335 points. The index continued moving lower and saw a sharp decline for the first 5 minutes of trading. Prices then found support and started moving higher after recording its intraday low at 43600.35. A rally almost recovered all the losses and the index recorded its intraday high at 44002.80. Prices finally closed at 43914.90 with a loss of 147 points. PVT BANK has underperformed, saw a sharp downside move, and ended with a loss of 0.46%. PSU BANK has outperformed, saw a mild up move, and closed with a gain of 0.11%. Within the index, in terms of points, SBIN contributed the highest on the upside while HDFC BANK contributed the lowest. There is a strong support zone within the 43500-44000 range as prices have spent almost 2 months May & June 2023 around that zone. The index is holding this support for the past two days and it is likely to be held. The short-term trend is sideways. Resistance is visible around 45 100.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| INFY | 1418.50 | BUY | The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1420.05 with a stop loss of 1412.00 and a target of 1440.50. |
| TATA CHEM | 990.70 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 990.00 with a stop loss of 1000.85 and a target of 971.70. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TCS | 3480 CE | BUY | 37.20 | CMP | 34 | 51 | BREAKOUT |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ESCORTS.23.08 Aug | 2709.8 | 4.17 | 19.8 | 1339250 | CROMPTON.23.08 Aug | 282.2 | -6.26 | 18.26 | 14225400 | |
| PEL.23.08 Aug | 1053.55 | 3.86 | 4.1 | 10224000 | HINDCOPPER.23.08 Aug | 143.7 | -6.14 | 39.5 | 29759500 | |
| LUPIN.23.08 Aug | 1119 | 2.97 | 9.88 | 6040100 | INDUSTOWER.23.08 Aug | 161 | -5.65 | 11.73 | 84564800 | |
| OFSS.23.08 Aug | 4106.05 | 2.7 | 24.67 | 264800 | COFORGE.23.08 Aug | 5040 | -3.74 | 15.06 | 1010700 | |
| ULTRACEMCO.23.08 Aug | 8262 | 2.37 | 0.25 | 1552300 | INDIGO.23.08 Aug | 2470.45 | -3.5 | 62.82 | 8500800 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IBULHSGFIN.23.08 Aug | 164.8 | 4.7 | -2.18 | 51362100 | IDEA.23.08 Aug | 7.85 | -3.09 | -0.79 | 759520000 | |
| PIIND.23.08 Aug | 3832 | 1.71 | -0.61 | 2332750 | INDIACEM.23.08 Aug | 247 | -2.56 | -0.62 | 22727300 | |
| MANAPPURAM.23.08 Aug | 148.8 | 1.47 | -0.51 | 62886000 | ABB.23.08 Aug | 4309.65 | -1.18 | -1.45 | 1684750 | |
| IPCALAB.23.08 Aug | 887 | 1.3 | -0.49 | 2245750 | GMRINFRA.23.08 Aug | 52.75 | -0.66 | -0.07 | 130117500 | |
| GNFC.23.08 Aug | 544 | 1.27 | -1.34 | 8491600 | AARTIIND.23.08 Aug | 463 | -0.63 | -0.16 | 10521000 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Ultratech Cement Limited | 8251.9 | 2.45 | 282782 | 468648 | 86.1 | Nifty50 | 19465 | 0.16 | 100146 | |
| Torrent Pharma Ltd. | 1986.3 | 0.73 | 206300 | 322881 | 74.8 | Niftybank | 43946.4 | -0.33 | 100077 | |
| Power Grid Corporation o | 248.05 | 1.45 | 6893604 | 5044687 | 73.2 | Nifty it | 31212.1 | 0.59 | 100077 | |
| Britannia Ind Ltd. | 4498.5 | -0.02 | 518358 | 405417 | 72.67 | India Vix | 12.13 | 1.04 | 103578 | |
| Bharti Airtel Limited | 856.95 | -1.16 | 3962408 | 1867815 | 70.06 | Nifty Fmcg | 51815.4 | 0.41 | 100077 | |
| Havells India Limited | 1269.85 | -0.46 | 433375 | 502158 | 66.99 | Nifty Pharma | 15398.8 | 0.61 | 100077 | |
| Larsen & Toubro Limited | 2691.05 | 1.17 | 1703875 | 908820 | 66.61 | Nifty Realty | 533.45 | 1.1 | 100077 | |
| Oberoi Realty Limited | 1080.2 | 0.97 | 556370 | 642161 | 65.43 | Nifty Auto | 15425 | 0.64 | 100074 | |
| Godrej Cons Products Ltd | 1041.5 | 0.57 | 720033 | 756925 | 65.02 | Nifty Metal | 6484.1 | -0.94 | 100074 | |
| Mah & Mah Ltd. | 1570.6 | 1.54 | 2361632 | 1217515 | 64.92 | Nifty Financial Services | 19586.1 | -0.34 | 100071 | |
Upcoming Economic Data
| Domestic International | |
| INR: FX Reserves, USD on 18th Aug, 2023
INR: GDP Quarterly (YoY) (Q1) on 31st Aug, 2023 |
USD: Building Permits (Jul) on 16th Aug, 2023
USD: Initial Jobless Claims on 17th Aug, 2023 |
News Updates
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The equity benchmarks once again saved the best for last as they recovered the day’s losses to close higher on August 16, amid buying across the sectors barring metals and banks. At close, the Sensex was up 137.50 points, or 0.21 percent, at 65,539.42, and the Nifty was up 30.50 points, or 0.16 percent, at 19,465.
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The Union Cabinet on August 16 approved a budget of Rs 32,500 crore for seven railway projects. These projects are estimated to add 2,339 km to the existing network of Indian Railways, Rail Minister Ashwini Vaishnaw said.
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Coal India Limited’s (CIL) capital expenditure (capex) clocked an 8.5 percent year-on-year growth at Rs 4,700 crore in the first four months (April-July) of FY 24, the central public sector undertaking (CPSU) said on August 16.
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Being optimistic and confident about Patanjali Foods’ FMCG business, chief executive officer Sanjeev Asthana said the company is pretty much on course to achieve revenue growth of Rs 7,000 crores for FY24 in the FMCG segment.
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Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
Board Meetings
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| AHASOLAR | A.G.M.;General | 17-Aug-23 | TRANSVOY | General | 18-Aug-23 |
| BHATIA | General | 17-Aug-23 | TREL | Quarterly Results | 18-Aug-23 |
| GMDCLTD | Dividend | 17-Aug-23 | YUG | Bonus issue;A.G.M. | 18-Aug-23 |
| JISLDVREQS | General | 17-Aug-23 | ASARFI | A.G.M.;General | 19-Aug-23 |
| JISLJALEQS | General | 17-Aug-23 | KGPETRO | A.G.M.;General | 19-Aug-23 |
| LAXMIPATI | A.G.M.;General | 17-Aug-23 | RASSIREF | Quarterly Results | 19-Aug-23 |
| MIDEASTP | A.G.M. | 17-Aug-23 | ATL | Quarterly Results | 21-Aug-23 |
| REPRO | Preferential Issue of shares | 17-Aug-23 | GETALONG | General | 21-Aug-23 |
| SPANDANA | General | 17-Aug-23 | INDOCITY | A.G.M. | 21-Aug-23 |
| YATHARTH | Quarterly Results | 17-Aug-23 | INSILCO | Quarterly Results | 21-Aug-23 |
| ZEAL | A.G.M.;General | 17-Aug-23 | JAINCO | General | 21-Aug-23 |
| BETALA | A.G.M. | 18-Aug-23 | JJFINCOR | General | 21-Aug-23 |
| ISLCONSUL | A.G.M.;General | 18-Aug-23 | MOHITE | Quarterly Results | 21-Aug-23 |
| JUBLINGREA | General | 18-Aug-23 | NILACHAL | A.G.M. | 21-Aug-23 |
| KEIL | General | 18-Aug-23 | OBCL | A.G.M.;General | 21-Aug-23 |
| KENVI | General | 18-Aug-23 | RANJITSE | Quarterly Results | 21-Aug-23 |
| MACINTR | Increase in Authorised Capital;A.G.M.;Preferential Issue of shares | 18-Aug-23 | PRERINFRA | General | 22-Aug-23 |
| PIONEEREMB | Issue Of Warrants | 18-Aug-23 | WSIND | General | 22-Aug-23 |
| RAWEDGE | Employees Stock Option Plan;Increase in Authorised Capital;A.G.M.;General | 18-Aug-23 | PGHL | Final Dividend;Audited Results | 23-Aug-23 |
| REGENCY | Preferential Issue of shares | 18-Aug-23 | VALECHAENG | Quarterly Results | 23-Aug-23 |
| SCARNOSE | A.G.M.;General | 18-Aug-23 | LNIND | Scheme of Arrangement;General | 24-Aug-23 |
| SUDARSHAN | General | 18-Aug-23 | PGHH | Final Dividend;Audited Results | 28-Aug-23 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ACE | 17-Aug-23 | Final Dividend – Rs. – 1.0000 | CONTROLPR | 18-Aug-23 | Buy Back of Shares |
| BEL | 17-Aug-23 | Final Dividend – Rs. – 0.6000 | CREST | 18-Aug-23 | Dividend – Rs. – 1.0000 |
| BENARAS | 17-Aug-23 | Final Dividend – Rs. – 20.0000 | DLINKINDIA | 18-Aug-23 | Special Dividend – Rs. – 5.0000 |
| HERANBA | 17-Aug-23 | Final Dividend – Rs. – 1.2500 | DLINKINDIA | 18-Aug-23 | Final Dividend – Rs. – 5.0000 |
| IGPL | 17-Aug-23 | Final Dividend – Rs. – 10.0000 | EFCIL | 18-Aug-23 | Stock Split From Rs.10/- to Rs.2/- |
| INDPRUD | 17-Aug-23 | Final Dividend – Rs. – 60.0000 | ELIXIR | 18-Aug-23 | Final Dividend – Rs. – 1.2500 |
| IPL | 17-Aug-23 | Final Dividend – Rs. – 0.7500 | GPIL | 18-Aug-23 | Final Dividend – Rs. – 4.0000 |
| IVC | 17-Aug-23 | Final Dividend – Rs. – 0.8000 | GREENPLY | 18-Aug-23 | Dividend – Rs. – 0.5000 |
| J&KBANK | 17-Aug-23 | Final Dividend – Rs. – 0.5000 | GREENPOWER | 18-Aug-23 | Right Issue of Equity Shares |
| JBCHEPHARM | 17-Aug-23 | Final Dividend – Rs. – 9.2500 | IFGLEXPOR | 18-Aug-23 | Final Dividend – Rs. – 7.0000 |
| MANYAVAR | 17-Aug-23 | Final Dividend – Rs. – 9.0000 | IRCTC | 18-Aug-23 | Final Dividend – Rs. – 2.0000 |
| NEAGI | 17-Aug-23 | Dividend – Rs. – 30.0000 | JINDALSTEL | 18-Aug-23 | Final Dividend – Rs. – 2.0000 |
| RELAXO | 17-Aug-23 | Final Dividend – Rs. – 2.5000 | JKPAPER | 18-Aug-23 | Final Dividend – Rs. – 4.0000 |
| SHILCTECH | 17-Aug-23 | Final Dividend – Rs. – 10.0000 | KSE | 18-Aug-23 | Final Dividend – Rs. – 20.0000 |
| SOUTHBANK | 17-Aug-23 | Final Dividend – Rs. – 0.3000 | LANCORHOL | 18-Aug-23 | Bonus issue 1:2 |
| VGUARD | 17-Aug-23 | Final Dividend – Rs. – 1.3000 | LEHAR | 18-Aug-23 | Interim Dividend – Rs. – 0.2000 |
| YSL | 17-Aug-23 | Final Dividend – Rs. – 325.0000 | LICHSGFIN | 18-Aug-23 | Final Dividend – Rs. – 8.5000 |
| AKCAPIT | 18-Aug-23 | Final Dividend – Rs. – 6.0000 | MAGNAELQ | 18-Aug-23 | Dividend – Rs. – 3.0000 |
| APOLLOHOSP | 18-Aug-23 | Final Dividend – Rs. – 9.0000 | NGLFINE | 18-Aug-23 | Final Dividend – Rs. – 1.7500 |
| AVTNPL | 18-Aug-23 | Final Dividend – Rs. – 0.6000 | ONGC | 18-Aug-23 | Final Dividend – Rs. – 0.5000 |
| COALINDIA | 18-Aug-23 | Final Dividend – Rs. – 4.0000 | PAGEIND | 18-Aug-23 | Interim Dividend – Rs. – 75.0000 |
| CONCOR | 18-Aug-23 | Interim Dividend – Rs. – 2.0000 | PETRONET | 18-Aug-23 | Final Dividend – Rs. – 3.0000 |
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