The NIFTY opened at 18595.05 with a gap up of 32 points. The index started a down move after the opening but soon found support and moved up. However, the momentum was not very strong. Prices have continued these alternate bouts of buying and selling for almost the whole day and formed a narrow trading range of about 50 points. The Intraday range was very narrow. The Index first recorded its intraday high at 18633.60, then its intraday low at 18559.75, and finally closed at 18601.50 with a gain of just 38.10 points or 0.21% up.IT, MEDIA and REALTY outperformed today and ended with a gain of over 1% followed by OIL GAS and METAL. BANK FINANCIAL, and PHARMA underperformed today and ended with a minor loss. Support is visible around 18400-18450 while resistance is now visible around 18750 which is the recent swing high. The volatility is very low as the INDIA VIX is moving around level 11 for the past week. The short-term trend is again sideways as prices have come back and stayed inside the 18450-18650 trading range for the past two trading days. The narrow price action indicates a sharp move is about to come. We should take a trade in the direction of a breakout.


The BANK NIFTY opened at 44035.20 with a minor gap up of just 45 points. The index started moving sideways after the opening tick. Prices have moved range bound inside a narrow trading range for the whole day. The index recorded its intraday high at 44124.95, its intraday low at 43874.05, and finally closed at 43956.45 with a loss of just 34 points. PSU BANK outperformed today, saw a modest upside rally, and closed with a gain of 0.48 % PVT BANK underperformed today and closed with a loss of Just 0.03% Within the index, in terms of points, BANK BARODA contributed the highest on the upside while HDFC BANK contributed the lowest. NIFTY BANK moved very narrowly today inside a range of just 250 points for the whole day and ended almost on a flat note. The last week was very narrow so we are expecting a sharp move this week. However, the beginning continued to be narrow but we may see a sharp move in the coming days of this week. We have been tracking a trading range inside 43700-44500.


COAL INDIA 229.00 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 229.00 with a stop loss of 228.40 and a target of 231.65.
CIPLA 959.95 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 954.95 with a stop loss of 962.15 and a target of 942.55.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDPETRO.23.06 Jun 275.15 4.42 11.29 22941900 SRF.23.06 Jun 2350.2 -3.5 12.52 3328875
RECLTD.23.06 Jun 155.15 3.68 6.26 56488000 INDIGO.23.06 Jun 2429.8 -1.75 5.75 3412500
INTELLECT.23.06 Jun 599.3 3.44 4.57 3064000 ALKEM.23.06 Jun 3371 -1.74 0.29 623400
IDEA.23.06 Jun 7.6 3.4 1.06 495530000 CONCOR.23.06 Jun 665.5 -1.58 0.25 5636000
BPCL.23.06 Jun 373.65 3.33 8.96 23356800 CIPLA.23.06 Jun 959.6 -1.14 6.36 10825750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDUSTOWER.23.06 Jun 164.45 3.92 -0.49 65214800 INDIACEM.23.06 Jun 231 -0.13 -6.05 18916700
NAUKRI.23.06 Jun 4293.95 3.4 -0.44 1491375 SBIN.23.06 Jun 581 -0.14 -0.87 62257500
PIIND.23.06 Jun 3752.95 3.3 -1.26 1849000 ITC.23.06 Jun 439.4 -0.33 -2.14 63929600
BSOFT.23.06 Jun 339.7 3.16 -0.32 8182000 IBULHSGFIN.23.06 Jun 109.8 -0.36 -0.74 51488000
GNFC.23.06 Jun 582.6 2.7 -1.71 6191900 AUROPHARMA.23.06 Jun 667.25 -0.63 -1.15 8832000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alkem 3347.5 -1.96 156889 317553 85.87 Nifty50 18601.5 0.21 100467
Ipca Laboratories Ltd. 730.55 0.36 1543263 767510 83.02 Niftybank 43944.2 -0.1 100410
Hdfc Ltd. 2640.8 -0.46 3275459 3380249 77.74 Nifty it 28784 1.51 100410
Larsen & Toubro Limited 2339.95 -0.98 1172382 1940724 77.58 India Vix 11.24 1.12 103566
Exide Industries Ltd 205.55 -0.07 2078411 3509198 76.12 Nifty Fmcg 50762.55 0.17 100410
Hcl Technologies Ltd. 1139.65 2.69 1670970 1334606 73.16 Nifty Pharma 12856.05 -0.04 100410
Tata Consultancy Serv Lt 3246.9 1.17 2324605 1286294 72.44 Nifty Realty 505.5 1.41 100410
Dabur India Ltd. 553.6 0.66 1007065 1543714 71.92 Nifty Auto 14673.85 0.33 100410
Sbi Life Insurance Compa 1238.9 0.53 1402903 1360082 71.41 Nifty Metal 6076.3 0.61 100410
Sun Pharma  Ltd 985.45 0.15 593319 1635544 70.92 Nifty Financial Services 19399.75 -0.06 100407


   Domestic                                                                                                                                                  International
INR: WPI Inflation (YoY) (May)  on 14th June, 2023

INR: Trade Balance on 15th June, 2023

 USD: CPI (YoY) (May) on 13th June, 2023

USD: Core CPI (MoM) (May) on 13th June, 2023


  • Benchmark indices ended higher on June 12 with Nifty around 18600. At close, the Sensex was up 99.08 points or 0.16% at 62,724.71, and the Nifty was up 38.10 points or 0.21% at 18,601.50. About 2098 shares advanced, 1528 shares declined, and 119 shares unchanged.

  • Indigo shares crash on reports of Gangwal family selling 5-8% stake in July, Brokers have already begun approaching select funds to gauge their interest in participating in a potential block deal, as per sources.

  • Supreme Court sets aside stay on bike taxi ban in Delhi, On May 26, the Delhi High Court stayed a notice issued by the Delhi transport department to stop bike taxi services.

  • No leak of users’ data from CoWIN portal, adequate safety measures in place: Govt, A government source said all application programming interfaces (API) associated with CoWIN are being looked over, and the Health Ministry is expected to post a clarification in this regard.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
FOODSIN General 13-Jun-23 RASSIREF Audited Results 15-Jun-23
MADHAVIPL Audited Results 13-Jun-23 SBLI Audited Results 15-Jun-23
NUTRICIRCLE General 13-Jun-23 SUPRAP General 15-Jun-23
SALEM A.G.M.;General 13-Jun-23 ALFATRAN A.G.M.;Increase in Authorised Capital 16-Jun-23
SANINFRA General 13-Jun-23 DLCL Audited Results 16-Jun-23
SECURCRED General 13-Jun-23 MASTERTR Increase in Authorised Capital;Issue Of Warrants;Preferential Issue of shares 16-Jun-23
SPMLINFRA Audited Results;Quarterly Results 13-Jun-23 MITSHI A.G.M. 16-Jun-23
SRESTHA Increase in Authorised Capital;General 13-Jun-23 FILATFASH General;Preferential Issue of shares 17-Jun-23
VIDLI General 13-Jun-23 SURAJLTD General 17-Jun-23
BLUECLOUDS General 14-Jun-23 GAL Audited Results;General 19-Jun-23
HRMNYCP General 14-Jun-23 KUMPFIN A.G.M. 19-Jun-23
INDAGIV Audited Results 14-Jun-23 ROSEMER Issue Of Warrants;General;Preferential Issue of shares 19-Jun-23
INDRANIB Audited Results 14-Jun-23 ZHINUDYP General 20-Jun-23
INDRENEW Right Issue of Equity Shares 14-Jun-23 AVANTEL Stock  Split 23-Jun-23
RAWEDGE General 14-Jun-23 KSOLVES General 24-Jun-23
VTMLTD General 14-Jun-23 WANBURY Audited Results 26-Jun-23
AMS General 15-Jun-23 HAL Stock  Split 27-Jun-23
ARIHCAPM General 15-Jun-23 SAMKRG General 30-Jun-23
DPL Audited Results;Quarterly Results 15-Jun-23 HATSUN General 05-Jul-23
GEE Audited Results 15-Jun-23 COFORGE Interim Dividend;Quarterly Results 20-Jul-23
INDSUCR Audited Results 15-Jun-23 ULTRACEMCO Quarterly Results 21-Jul-23
NAGARFERT Audited Results 15-Jun-23 DRONACHRYA General 10-Aug-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DIAMINESQ 13-Jun-23 Final Dividend – Rs. – 3.0000 SMCGLOBAL 16-Jun-23 Final Dividend – Rs. – 1.2000
JINDALSAW 13-Jun-23 Final Dividend – Rs. – 3.0000 TORNTPOWER 16-Jun-23 Final Dividend – Rs. – 4.0000
LKPFIN 13-Jun-23 Final Dividend – Rs. – 1.0000 WELCORP 16-Jun-23 Final Dividend – Rs. – 5.0000
LKPSEC 13-Jun-23 Final Dividend – Rs. – 0.1000 WIPRO 16-Jun-23 Buy Back of Shares
CANBK 14-Jun-23 Dividend – Rs. – 12.0000 ACGL 19-Jun-23 Final Dividend – Rs. – 15.0000
SHANKARA 14-Jun-23 Final Dividend – Rs. – 2.5000 CRAFTSMAN 19-Jun-23 Final Dividend – Rs. – 11.2500
TATACHEM 14-Jun-23 Final Dividend – Rs. – 17.5000 FUTSOL 19-Jun-23 Final Dividend – Rs. – 1.0000
UDAICEMENT 14-Jun-23 Right Issue of Equity Shares HINDUNILVR 19-Jun-23 Final Dividend – Rs. – 22.0000
DCBBANK 15-Jun-23 Final Dividend – Rs. – 1.2500 BANKINDIA 20-Jun-23 Dividend – Rs. – 2.0000
DJML 15-Jun-23 Final Dividend – Rs. – 0.1500 BLUESTARCO 20-Jun-23 Bonus issue 1:1
TCS 15-Jun-23 Final Dividend – Rs. – 24.0000 CEATLTD 20-Jun-23 Final Dividend – Rs. – 12.0000
VAKRANGEE 15-Jun-23 Spin Off CERA 20-Jun-23 Dividend – Rs. – 50.0000
VBL 15-Jun-23 Stock  Split From Rs.10/- to Rs.5/- DREDGECORP 20-Jun-23 E.G.M.
VISAKAIND 15-Jun-23 Final Dividend – Rs. – 0.6000 MFL 20-Jun-23 Final Dividend – Rs. – 2.5000
ANGELONE 16-Jun-23 Final Dividend – Rs. – 4.0000 MOL 20-Jun-23 Final Dividend – Rs. – 1.4000
AVANTEL 16-Jun-23 Final Dividend – Rs. – 1.0000 NEWGEN 20-Jun-23 Final Dividend – Rs. – 5.0000
EIMCOELECO 16-Jun-23 Final Dividend – Rs. – 5.0000 SAGCEM 20-Jun-23 Final Dividend – Rs. – 0.7000
HDFCLIFE 16-Jun-23 Final Dividend – Rs. – 1.9000 GULPOLY 21-Jun-23 Bonus issue 1:5
HIGHENE 16-Jun-23 Final Dividend – Rs. – 3.5000 INDIAMART 21-Jun-23 Bonus issue 1:1
PEL 16-Jun-23 Final Dividend – Rs. – 31.0000 OBEROIRLTY 21-Jun-23 Final Dividend – Rs. – 4.0000
PFC 16-Jun-23 Final Dividend – Rs. – 4.5000 PANCARBON 21-Jun-23 Dividend – Rs. – 12.0000
SHRIRAMFIN 16-Jun-23 Final Dividend – Rs. – 20.0000 POLYCAB 21-Jun-23 Dividend – Rs. – 20.0000

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.

For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)

Disclosure Appendix

Analyst Certification (For Reports)

Kiran Tahlani, Elite Wealth Limited,

The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.

As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:

(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and

(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.

For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.

Research Excerpts

This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit

Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or e-mailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail

Options related research:

If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at

Other Disclosures

All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.

Ownership and material conflicts of interest Disclosure

Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.

Country Specific Disclosures

India – For private circulation only, not for sale.

Legal Entities Disclosures

Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth  Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone: 011-43035555, Facsimile: 011-22795783 and Website:

EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:

  1. Reports
  2. a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;

(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;

(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;

  1. Compensation

(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;

(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;

(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;

(d) EWL  or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;

(e) EWL or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.

3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL has never been engaged in market making activity for the subject company;
(6) EWL shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.