the NIFTY opened at 21434.80 with a gap down of just 22 points. The index initially moved lower for the first five minutes of trading and then quickly bounced up. Prices have started moving higher but could not see much upside and faced resistance around the previous day’s closing price. A minor decline came that could not go below the early morning lows. The index first recorded its intraday low at 21365.35 in morning trades, then its intraday high at 21482.80 in the afternoon session, and finally closed at 21418.65 with a loss of 38 points or 0.18% down. MEDIA outperformed and ended with a gain of 1.18% followed by PHARMA and METAL. REALTY underperformed and closed with a loss of nearly 1% followed by BANK, FINANCIAL, and FMCG. The intraday movement was very volatile whereas the intraday range was very narrow of about 117 points. Within the NIFTY 50 index, RELIANCE led the gains while the BANKING Stocks have led the bears. The short-term trend is up and very strong as prices are moving around its lifetime new highs. We have been tracking support of around 21000 while there is no visible resistance.


the BANK NIFTY opened at 48068.50 with a gap down of 112 points. The index initially moved down and then bounced up. However, prices faced resistance around the early morning higher and again turned down. This kind of volatile movement continued till the end and prices remained in negative territory for the whole day. The index recorded its intraday high at 48076.60, its intraday low at 47806.70, and finally closed at 47862.05 with a loss of 218 points The short-term trend is up. There is no doubt about it as the index is trading near its lifetime new highs and making a bullish pattern of Higher Highs and Higher Lows. The support is now visible around 47500 whereas there is no visible resistance.

We should look for buying only as far as prices are staying above 47500 support. A breakdown below 47500 may indicate a sideways short-term trend. In that case, we will look for both buying and selling opportunities.


HAL 2823 BUY Intermediate and short term trend are up in HAL, The stock has seen a sharp upside move and then started process of consolidation, prices have formed a trading range and are now trading on the verge of a breakout.  Traders should look for a buying opportunity above 2830 with stop just below 2800 and a target around 2890
BERGER 595.55 BUY Intermediate and short-term trends are up in Berger paint.  The stock has seen process of consolidation, price have formed and trading range and are now trading on the verge of breakout.  Traders should look for a buying opportunity above 589 with stop just below 591 and target would be around 610-615


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
IRCTC.23.12 Dec 878.4 11.88 13.77 15915375 GODREJPROP.23.12 Dec 1997 -3.19 2.27 3490775
SIEMENS.23.12 Dec 4151.15 5.74 2.34 2126300 BALKRISIND.23.12 Dec 2513 -2.78 3.61 1685700
ZYDUSLIFE.23.12 Dec 683.8 5.46 8.23 7606800 RAMCOCEM.23.12 Dec 1019.6 -2.03 2.7 3196850
NATIONALUM.23.12 Dec 116.05 4.22 2.61 76935000 POWERGRID.23.12 Dec 233.35 -1.97 3.67 81496800
IBULHSGFIN.23.12 Dec 232.5 4.14 8.39 53866200 CANBK.23.12 Dec 444 -1.75 1.31 51618600
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDCOPPER.23.12 Dec 196.3 4.86 -2.48 35149600 INDIACEM.23.12 Dec 260.3 -2.31 -2.85 20868400
BALRAMCHIN.23.12 Dec 398 3.35 -0.2 10545600 OBEROIRLTY.23.12 Dec 1451.5 -2.26 -2.1 8087100
SAIL.23.12 Dec 115.1 2.95 -0.14 1.5E+08 MCX.23.12 Dec 3242.95 -1.51 -0.25 2523600
DELTACORP.23.12 Dec 143.65 1.88 -1.61 14218400 TECHM.23.12 Dec 1292.6 -1.51 -0.16 13401600
VEDL.23.12 Dec 261.55 1.63 -0.43 85746000 RBLBANK.23.12 Dec 288.95 -1.42 -0.54 62545000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 1030.6 -1.11 758159 826716 79.1 Nifty50 21418.65 -0.18 71457
Container Corp Of India 869.35 1.1 1740503 1137139 77.01 Niftybank 47867.7 -0.57 71460
Crompton Greaves Consume 293.35 1.56 2484562 2267779 75.12 Nifty Fmcg 54017.05 -0.31 71460
Cholamandalam Investment 1248.3 0.36 2129177 1570747 73.96 Nifty Pharma 16332.15 0.94 71460
Icici Lombard General In 1449.35 -0.16 459786 312587 73.84 Nifty Auto 18068.25 0.17 71460
Dr. Reddys Lab Ltd 5591.05 0.03 655852 528569 72.68 Nifty Media 2465.75 1.18 71460
Sun Pharma  Ltd 1252.75 1.38 2135393 2518105 72.47 Nifty Financial Services 21444.9 -0.39 71460
Shriram Finance Limited 2048 -1.43 840682 1626148 72.41 Nifty Metal 7768.55 0.43 71460
Marico Limited 540.45 0.98 1141718 1449079 72.33 Nifty Realty 759.7 -0.96 71460
Hindustan Unilever Ltd 2535.5 0.5 1969036 1837287 72.24 Nifty it 35685.55 -0.27 71460

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: Current Account % of GDP (QoQ) (Q3) on 29th December, 2023

INR: Current Account (USD) (Q3) on 29th December, 2023

USD: Building Permits (Nov) on 19th December, 2023

USD: Crude Oil Inventories on 20th December, 2023

News Updates

  • Benchmark indices closed lower, snapping a three day rally, after rising to near their lifetime high levels. Today’s fall was because of the losses in shares of banks, fast moving consumer goods, and information technology stocks. The Nifty 50 index closed 38 points or 0.18% lower at 21,418.65 while the Sensex shed 168.66 points or 0.24% to close at 71,315.09.

  • Iliad said on Monday it had submitted a proposal to Vodafone to merge their Italian units, a move that would combine its fast-growing consumer base with the British company’s strength in business in a highly competitive market. Shares in Vodafone, which said last month it was reviewing options for its Italian operation, rose 5.5 percent in early trading on the Iliad joint-venture proposal, which Reuters first reported on Friday..

  • Mining and metals major Vedanta Limited approved a second interim dividend of Rs 11 per equity share on December 18, which is 100 percent on face value of Rs 1 per equity share for financial year 2023-24 (FY24). On December 18, the stock of Vedanta closed 1.4 percent higher at Rs 260 per share. In comparison, the benchmark Sensex was down 168 points or 0.24 percent to 71,315 levels.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ENBETRD General 19-Dec-23 SBFC General 21-Dec-23
EVERTEX General 19-Dec-23 STL Increase in Authorised Capital;Bonus issue 21-Dec-23
GARGFUR Issue Of Warrants;Preferential Issue of shares 19-Dec-23 TIJARIA General 21-Dec-23
SATIN General 19-Dec-23 UNITECH Quarterly Results 21-Dec-23
SIELFNS General 19-Dec-23 AKSHAR Interim Dividend;Bonus issue;Buy Back of Shares 22-Dec-23
SRESTHA General 19-Dec-23 CANFINHOME Interim Dividend 22-Dec-23
TIHIL General 19-Dec-23 GUJARATPOLY General 22-Dec-23
TRANSCOR General 19-Dec-23 HAWKINCOOK General 22-Dec-23
VEDL General 19-Dec-23 NITINFIRE Quarterly Results 22-Dec-23
XPROINDIA Issue Of Warrants;Preferential Issue of shares;General 19-Dec-23 KBCGLOBAL Quarterly Results;General 23-Dec-23
BLUECHIPT General 20-Dec-23 NDMETAL General 23-Dec-23
FLAIR Quarterly Results 20-Dec-23 SSLFINANCE Issue Of Warrants 23-Dec-23
JMJFIN General 20-Dec-23 ABHICAP General 26-Dec-23
MAAGHADV Bonus issue;Stock  Split 20-Dec-23 INFY Audited Results;Quarterly Results 11-Jan-24
MACINTR Increase in Authorised Capital;Preferential Issue of shares 20-Dec-23 HCLTECH Interim Dividend;Quarterly Results 12-Jan-24
MYSPAPE Quarterly Results 20-Dec-23 ASIANPAINT Quarterly Results 17-Jan-24
PML General 20-Dec-23 ULTRACEMCO Quarterly Results 19-Jan-24
SWASTIKA Issue Of Warrants 20-Dec-23 COFORGE Interim Dividend;Quarterly Results 22-Jan-24
UMIYA General 20-Dec-23 CONCOR Interim Dividend;Quarterly Results;General 24-Jan-24
ARNOLD Buy Back of Shares 21-Dec-23 BOSCHLTD Quarterly Results 13-Feb-24
MODISONLTD General 21-Dec-23 ABB Final Dividend;Audited Results;A.G.M.;Quarterly Results 20-Feb-24

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
EASEMYTRIP 19-Dec-23 Interim Dividend – Rs. – 0.1000 PGCRL 22-Dec-23 E.G.M.
INDINFR 19-Dec-23 Income Distribution (InvIT) RAWEDGE 22-Dec-23 E.G.M.
PML 19-Dec-23 Bonus issue 2:1 RSYSTEMINT 22-Dec-23 Interim Dividend – Rs. – 6.8000
FRANKLININD 21-Dec-23 E.G.M. SMAUTO 22-Dec-23 Buy Back of Shares
ALPHALOGIC 22-Dec-23 Bonus issue 1:3 SMLT 22-Dec-23 Interim Dividend – Rs. – 1.0000
AXITA 22-Dec-23 Bonus issue 1:3 NMSRESRC 27-Dec-23 E.G.M.
CMBL 22-Dec-23 E.G.M. VEDL 27-Dec-23 Interim Dividend
GENNEX 22-Dec-23 E.G.M. CMMHOSP 28-Dec-23 E.G.M.
KLRFM 22-Dec-23 Dividend – Rs. – 2.0000 PIFL 28-Dec-23 E.G.M.

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