The NIFTY closed at 21665.80 with a loss of 76.10 points or 0.35% down; The PHARMA outperformed and closed with a gain of 2.46% followed by OIL GAS, MEDIA, and METAL AUTO, IT, and REALTY underperformed and ended with a loss of over 1% followed by BANK. After a flat closing yesterday, the index moved down sharply and ended with a loss. It was again the BANKING stocks that led the bears as the top 4 PRIVATE BANKS HDFC, ICICI, AXIS, and KOTAK BANK ended the day with a loss. The short-term trend is sideways now which was up before as the index broke down after recording three narrow range days. The support is visible around 21250 while resistance is visible around 21800. The long-term trend is up while the long-term momentum has been moving inside the strength zone for the past few days. The Intermediate trend is up while the intermediate momentum has turned down from the strength zone and is now heading toward the weak zone. Both the momentums have started contradicting each other suggesting confusion amongst the traders.


The BANK NIFTY opened at 48194.80 with a gap up of 130 points. Prices initially moved lower and filled the gap quickly. The index recorded its intraday high at 48223.55, its intraday low at 47689.80, and finally closed at 47710.55 with a loss of 354 points. PVT BANKs have underperformed, saw a sharp downside move, and closed with a loss of 1.17%. PSU BANKs have also moved down saw a mild decline, and finally closed with a loss of 0.38%. Within the index, in terms of points, ICICI BANK contributed the highest on the downside followed by KOTAK BANK. BANK NIFTY continued moving downward and extended its losses for the third consecutive trading day. The intraday range was wide as prices have traveled within a range of over 500 points. The short-term trend is sideways now which was up before as the index has been closing lower for the past three trading days. We will get a buying opportunity if prices hold the 47500 support level. A breakdown may give us a shorting opportunity. As of now, we should step aside and watch how prices behave around the above-mentioned support levels.


BHARTI AIRTEL 797.05 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 801.90 with a stop loss of 795.00 and a target of 823.00.
PIDILITE IND 2550.35 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2545.25 with a stop loss of 2568.35 and a target of 2493.15.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ABFRL.24.01 Jan 244.5 7.73 4.52 32091800 IDEA.24.01 Jan 16.1 -5.57 3.82 1907840000
LUPIN.24.01 Jan 1406.5 6.26 8.48 9571850 EICHERMOT.24.01 Jan 3904 -3.92 19.36 3687425
GLENMARK.24.01 Jan 896.45 4.21 4.75 11549975 AUBANK.24.01 Jan 758.75 -2.99 11.08 15073000
BIOCON.24.01 Jan 268 4.1 2.34 39427500 FEDERALBNK.24.01 Jan 153 -2.98 6.97 93275000
OFSS.24.01 Jan 4498.25 3.16 5.88 688000 COFORGE.24.01 Jan 6064.15 -2.89 3.37 1056900
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ZYDUSLIFE.24.01 Jan 715.5 1.51 -0.18 8195400 BALRAMCHIN.24.01 Jan 406.3 -2.71 -3.3 11291200
BAJFINANCE.24.01 Jan 7461 1.43 -1.69 5928125 NTPC.24.01 Jan 308.15 -1.09 -0.21 102498000
AARTIIND.24.01 Jan 660.75 0.79 -2.58 10918000 SUNTV.24.01 Jan 710.7 -0.83 -0.53 7309500
COLPAL.24.01 Jan 2502.85 0.68 -0.32 4191250 PERSISTENT.24.01 Jan 7294.85 -0.75 -0.84 1698000
DEEPAKNTR.24.01 Jan 2498.35 0.47 -0.06 2346900 HINDCOPPER.24.01 Jan 271 -0.73 -1.84 34444700


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Muthootfin 1454.7 -0.77 385614 283906 75.96 Nifty50 18398.85 0.46 27822418
Abbott India Limited 23327.25 2.49 55844 18280 75.1 Niftybank 44072.1 0.64 11626455
Piind 3486.05 0.21 229908 299024 72.01 Nifty it 28165.4 0.49 659885
Icici Prudential Life In 534.4 0.46 1359923 1111528 70.42 India Vix 13.17 2.49 387714983
Godrej Cons Products Ltd 1159.15 1.25 1201742 460504 67.09 Nifty Fmcg 49506.55 1.14 409010
Aarti Industries Ltd. 655.65 0.6 2079464 974629 63.22 Nifty Pharma 12487.4 0.01 40986541
Hdfc Bank Ltd. 1699.1 0.06 14621046 4416670 62.03 Nifty Realty 472.45 4.32 1090636701
Maruti Suzuki India Ltd 10197.75 -0.83 776837 255206 61.98 Nifty Auto 14007.85 0.7 36531365
The Ramco Cements 1018.75 0.43 464522 227964 60.99 Nifty Metal 5701.75 0.19 89708169
Jk Cement Limited 3851.4 0.63 96592 70598 59.4 Nifty Financial Services 19583.2 0.39 3737456


   Domestic                                                                                                                                                  International
INR: Nikkei S&P Global Manufacturing PMI (Dec) on 3rd January, 2024

INR: Nikkei Services PMI (Dec) on 5th January, 2024

USD: JOLTs Job Openings (Nov) on 3rd January, 2024

USD: ISM Manufacturing PMI (Dec) on 3rd January, 2024


  • Benchmark indices ended lower on January 2 with Nifty around 21,650. At close, the Sensex was down 379.46 points or 0.53 percent at 71,892.48, and the Nifty was down 76.10 points or 0.35 percent at 21,665.80. About 1691 shares advanced, 1631 shares declined, and 72 shares unchanged.

  • Alok Industries soared 20 percent and was locked in its upper circuit at Rs 25.80, also its highest level in 52-weeks, on January 2 after Reliance Industries Ltd (RIL) subscribed to non-convertible redeemable preferential shares worth Rs 3,300 crore.

  • VST Industries Limited soared 20 percent to Rs 4,060 and were locked in the upper circuit following a report that 4 percent equity stake in the company was sold in a block deal.

  • The Finance Ministry is likely to hold a meeting this week to assess the revised estimate for disinvestment for FY24 to bring it to a “reasonable level” in view of no strategic sale of CPSEs this year and the department relying solely on OFS (offer for sale) and IPO (initial public offer) instruments, which have led to Rs 10,051.73 crore proceeds so far.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ADANIPORTS General 03-Jan-24 SPRAYKING General 04-Jan-24
ADTYFRG General 03-Jan-24 THEBYKE General 04-Jan-24
DHAMPURSUG Buy Back of Shares 03-Jan-24 ADCON Right Issue of Equity Shares 05-Jan-24
EXHICON Issue Of Warrants;Preferential Issue of shares 03-Jan-24 HIMFIBP General 05-Jan-24
FOODSIN General 03-Jan-24 KSCL Buy Back of Shares 05-Jan-24
INDITALIA General 03-Jan-24 MIC General 05-Jan-24
PRISMX General 03-Jan-24 MYSPAPE Quarterly Results 05-Jan-24
PTCIL General 03-Jan-24 QGO General 05-Jan-24
SHAH General 03-Jan-24 STCORP Quarterly Results 05-Jan-24
SHARDUL Voluntary Delisting of Shares 03-Jan-24 CORNE General;Quarterly Results 06-Jan-24
STEP2COR General;Increase in Authorised Capital;Preferential Issue of shares 03-Jan-24 GOODLUCK General 06-Jan-24
SUKHJITS Interim Dividend 03-Jan-24 MPL General 06-Jan-24
TCC General;Preferential Issue of shares 03-Jan-24 VLEGOV Quarterly Results 06-Jan-24
ACEMEN General;Quarterly Results 04-Jan-24 CHLLTD General 08-Jan-24
DEVLAB General 04-Jan-24 FRANKLININD General;Quarterly Results 08-Jan-24
GMBREW Quarterly Results 04-Jan-24 GDLLEAS Quarterly Results 08-Jan-24
GRASIM General 04-Jan-24 INDXTRA Quarterly Results 08-Jan-24
INDRENEW Quarterly Results 04-Jan-24 SELLWIN General;Increase in Authorised Capital 08-Jan-24
JAINCO General 04-Jan-24 AGOL General;Quarterly Results 09-Jan-24
PRIMEFRESH Employees Stock Option Plan;General 04-Jan-24 BETALA Quarterly Results 09-Jan-24
RAJNISH General 04-Jan-24 CMMHOSP General 09-Jan-24
SALEM General 04-Jan-24 CROPSTER General;Quarterly Results 09-Jan-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INLCM 03-Jan-24 Stock  Split From Rs.100/- to Rs.10/- ESSENTIA 11-Jan-24 Bonus issue 1:1
AKSHAR 04-Jan-24 Interim Dividend – Rs. – 0.0100 FREDUN 11-Jan-24 E.G.M.
7NR 05-Jan-24 Consolidation of Shares OLPCL 11-Jan-24 E.G.M.
ELEMARB 05-Jan-24 Buy Back of Shares ASCENSIVE 12-Jan-24 E.G.M.
FISCHER 05-Jan-24 E.G.M. INFRATRUST 12-Jan-24 Income Distribution (InvIT)
KANANIIND 05-Jan-24 E.G.M. KAUSHALYA 12-Jan-24 Consolidation of Shares
MLINDLTD 05-Jan-24 Bonus issue 1:50 NEWGEN 12-Jan-24 Bonus issue 1:1
NESTLEIND 05-Jan-24 Stock  Split From Rs.10/- to Rs.1/- HCLTECH 19-Jan-24 Interim Dividend
PGIL 05-Jan-24 Stock  Split From Rs.10/- to Rs.5/- TCS 19-Jan-24 Interim Dividend
GARGFUR 08-Jan-24 E.G.M. ANGELONE 23-Jan-24 Interim Dividend
QUEST 08-Jan-24 Right Issue of Equity Shares ASARFI 23-Jan-24 E.G.M.
COCHINSHIP 10-Jan-24 Stock  Split From Rs.10/- to Rs.5/- KSOLVES 25-Jan-24 Interim Dividend

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