The NIFTY opened at 20965.30 without much of a change. The index initially moved higher but soon found resistance and turned down. Prices continued these sharp moves for the first two hours of trading. The index started moving inside a narrow range from the afternoon session and saw a mild up move but could not surpass the early morning highs. The sideways movement continued till the end. The index recorded first its intraday low at 20923.70 in its initial trades, then its intraday high at 21026.10, and finally closed at 20997.10 with a gain of 27.70 points or 0.13% up. The MEDIAL and METAL outperformed and closed with a gain of over 1% followed by REALTY and FMCG, PHARMA was the only sector that ended with a loss. OIL GAS and FINANCIAL ended on a flat note. We have been tracking support around 20500. This support is now shifted upwards at 20800. There is no visible resistance as the index is moving in uncharted territory. We should look for a buying opportunity in the direction of a breakout.


The BANK NIFTY opened at 47233.30 with a gap down of 50 points. The index initially moved higher then saw a sharp dip and then again turned up. Prices have moved higher but soon found resistance and were turned down. Prices did not move much lower and started a consolidation phase which lasted till the end. Prices first recorded its intraday low at 47186.60 then its intraday high at 47588, and finally closed at 47299.70 with a gain of just 16 points. PSU BANKS have outperformed, saw a sharp upside rally, and finally closed with a gain of 1.36%. PVT BANKs also moved up, saw a mild upside move, and closed with a gain of 0.15%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while AXIS BANK contributed the lowest. The short-term trend is up. There is no doubt about it as prices are making lifetime new highs for the past two trading days. We have been tracking support around 46300. The support is shifted to 46500 which is also the recent swing low. There is no visible resistance as prices are again trading in uncharted territory. We should look for buying only as far as prices are staying above 46300 support.


HINDALCO 522.40 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 523.00 with a stop loss of 519.15 and a target of 530.80.
CIPLA 1202.30 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1195.00 with a stop loss of 1205.00 and a target of 1174.50.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TECH M  1240 CE BUY 28.25 ABOVE 31.30 28 41.15 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GMRINFRA.23.12 Dec 69.4 11.58 52.33 213918750 MCX.23.12 Dec 3200.8 -4.1 3.57 2624800
RBLBANK.23.12 Dec 269.3 4.4 5.16 61752500 ESCORTS.23.12 Dec 3158.2 -3.6 2.2 2558050
RECLTD.23.12 Dec 407.8 2.79 1.62 39238000 ZYDUSLIFE.23.12 Dec 640.65 -3.27 1.32 6678900
HCLTECH.23.12 Dec 1372.6 2.67 2.95 12766600 GLENMARK.23.12 Dec 800.85 -2.99 2.67 12380100
JSWSTEEL.23.12 Dec 844.1 2.33 2.72 14613075 TORNTPHARM.23.12 Dec 2065.8 -2.34 0.74 1637000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIACEM.23.12 Dec 272.25 3.24 -9.35 21300500 BALRAMCHIN.23.12 Dec 393.7 -3.69 -15.35 11800000
ZEEL.23.12 Dec 279.9 2.68 -6.92 102774000 BHEL.23.12 Dec 177.8 -3.68 -2.03 90651750
CHOLAFIN.23.12 Dec 1170.85 2.58 -3.11 12036875 IEX.23.12 Dec 153.35 -3.43 -2.91 61147500
LICHSGFIN.23.12 Dec 535.05 2.46 -2.25 20900000 IDEA.23.12 Dec 12.95 -3 -0.2 1691760000
PERSISTENT.23.12 Dec 6465.1 2.42 -3.06 2269750 ASTRAL.23.12 Dec 1934.25 -2.51 -2.74 2973067

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance Compa 1460.6 -0.31 731571 1346038 81.34 Nifty50 20997.1 0.13 41746607
Piind 3869.45 0.68 221981 383432 80.78 Niftybank 47314.25 0.11 18506823
Syngene 712.65 -1.45 2388502 736395 78.12 Nifty it 33514.25 0.36 813616
Hdfc Bank Ltd. 1651 -0.13 11593810 12503238 74.14 India Vix 12.76 2.33 686031294
Page Industries Limited 37291.8 -0.12 46091 51224 73.44 Nifty Fmcg 53976.9 0.63 346240
Cipla Ltd 1202.3 -1.38 1565455 1005523 69.16 Nifty Pharma 16039.9 -0.76 54571861
Max Financial Services l 1036.7 0.09 197580 268606 69.02 Nifty Realty 744.95 0.85 1177437277
Alkem 4725.25 -1.48 240894 207442 67.92 Nifty Auto 17852.3 0.47 49104136
Itc Ltd. 452.45 0.73 6599973 12636087 67.69 Nifty Metal 7439.7 1.04 117980064
Dabur India Ltd. 550.5 0.55 1278433 1643086 66.96 Nifty Financial Services 21214.7 0 3841344

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Nov) on 12th December, 2023

INR: Manufacturing Output (MoM) (Oct) on 12th December, 2023

USD: CPI (MoM) (Nov) on 12th December, 2023

USD: PPI (MoM) (Nov) on 13th December, 2023

News Updates

  • Benchmark indices ended higher in the volatile session on December 11 with Nifty around 21,000. At close, the Sensex was up 102.93 points or 0.15 percent at 69,928.53, and the Nifty was up 27.70 points or 0.13 percent at 20,997.10. About 2211 shares advanced, 1358 shares declined, and 174 shares unchanged.

  • Riding high on positive sentiment behind power and PSU stocks, shares of Indian Renewable Energy Development Agency (IREDA) zoomed over 160 percent over its issue price of Rs 32. While some investors might look at booking profits, analysts believe that IREDA is a long-term play and has legs to rally more.

  • Jaipur-based Motisons Jewellers has finalised December 18 as the opening date for its upcoming initial public offering (IPO). The company may be planning to raise around Rs 151 crore via public issue, if the offer price is considered as Rs 55 per share reported at the time of fund raising via pre-IPO placement.

  • GMR Airports Infrastructure on December 11 saw a near 7 percent uptick in its share price on the NSE. This surge followed the acquisition of shares worth Rs 1,671.5 crore in GMR Airports Infrastructure by GQG Partners. At 2:55 pm, shares of GMR Airports Infrastructure were trading at Rs 73.15 apiece.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ADANIPORTS General 12-Dec-23 KARMAENG General 14-Dec-23
HDIL Quarterly Results 12-Dec-23 RITESHIN General 14-Dec-23
HIMFIBP General 12-Dec-23 AKSHAR Interim Dividend;Bonus issue;Buy Back of Shares 15-Dec-23
KAUSHALYA General 12-Dec-23 ANMOL General 15-Dec-23
MAGNUM General 12-Dec-23 BMBMUMG General 15-Dec-23
PODDAR Quarterly Results 12-Dec-23 DARSHANORNA Right Issue of Equity Shares 15-Dec-23
SMLT Interim Dividend 12-Dec-23 GANDHAR Quarterly Results 15-Dec-23
STRGRENWO General 12-Dec-23 KABRADG General 15-Dec-23
UMIYA General 12-Dec-23 METALFORGE Quarterly Results 15-Dec-23
VALENCIA Right Issue of Equity Shares;General 12-Dec-23 ROJL Right Issue of Equity Shares 15-Dec-23
CHPLIND Quarterly Results;General 13-Dec-23 TRIMURTHI Quarterly Results;General 15-Dec-23
ESSARSHPNG General 13-Dec-23 FREDUN General 16-Dec-23
FORINTL General 13-Dec-23 ADITYA General 18-Dec-23
GEE Quarterly Results 13-Dec-23 SANDUMA Bonus issue 18-Dec-23
GROWINGTON Stock  Split;General 13-Dec-23 FLAIR Quarterly Results 20-Dec-23
MASTEK Preferential Issue of shares 13-Dec-23 MAAGHADV Bonus issue;Stock  Split 20-Dec-23
MOTOGENFIN General 13-Dec-23 MYSPAPE Quarterly Results 20-Dec-23
PVVINFRA General 13-Dec-23 STL Increase in Authorised Capital;Bonus issue 21-Dec-23
RSYSTEMINT Interim Dividend;General 13-Dec-23 GUJARATPOLY General 22-Dec-23
SABOOBR General 13-Dec-23 ULTRACEMCO Quarterly Results 19-Jan-24
SPANDANA General 13-Dec-23 COFORGE Interim Dividend;Quarterly Results 22-Jan-24
JINDALSAW General 14-Dec-23 CONCOR Interim Dividend;Quarterly Results;General 24-Jan-24

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BPCL 12-Dec-23 Interim Dividend – Rs. – 21.0000 SOMANYCERA 15-Dec-23 Buy Back of Shares
DHYAANI 12-Dec-23 Bonus issue 9:5 IFL 18-Dec-23 Bonus issue 1:10
RHL 12-Dec-23 E.G.M. EASEMYTRIP 19-Dec-23 Interim Dividend
SAFARIND 12-Dec-23 Bonus issue 1:1 INDINFR 19-Dec-23 Income Distribution (InvIT)
SIS 12-Dec-23 Buy Back of Shares PML 19-Dec-23 Bonus issue 2:1
SONATSOFTW 12-Dec-23 Bonus issue 1:1 FRANKLININD 21-Dec-23 E.G.M.
RCF 13-Dec-23 Final Dividend – Rs. – 3.7000 CMBL 22-Dec-23 E.G.M.
FORINTL 14-Dec-23 E.G.M. GENNEX 22-Dec-23 E.G.M.
HINDZINC 14-Dec-23 Interim Dividend – Rs. – 6.0000 KLRFM 22-Dec-23 Dividend – Rs. – 2.0000
TPHQ 14-Dec-23 Stock  Split From Rs.10/- to Rs.1/- PGCRL 22-Dec-23 E.G.M.
ASITCFIN 15-Dec-23 Right Issue of Equity Shares RAWEDGE 22-Dec-23 E.G.M.

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