The NIFTY opened at 18294.80 with a gap down of 54 points. The index continued moving lower but soon found support above 18250 and turned up from its early morning lows. Prices have filled the gap and rallied further on the upside toward 18400. However, prices found resistance there and started drifting downward after recording its intraday high at 18392.60.The NIFTY has seen a sharp intraday decline and broke down its early morning lows. The index recorded its intraday low at 18262.95 and finally closed at 18285.40 with a loss of 62.60 points or 0.34% up. PHARMA outperformed today and gained 1.03% followed by FMCG and MEDIA METAL underperformed today and closed lower by 1.56% followed by BANK and FINANCIAL IT, REALTY, and AUTO ended almost on a flat note. The short-term trend is sideways. The NIFTY spent the whole of May month in almost a 300 points range within 18100-18400. Support is visible around 18000-18050 zones while resistance is visible around 18400-18450 zones.


The BANK NIFTY opened at 43751.95 with a gap down of 122 points. Prices have initially moved lower but bounced up quickly and saw a sharp intraday rally. The index recorded its intraday high at 44010.45 and found resistance there. A down move started afterward which lasted till the end. The index recorded its intraday low at 43639.80 and finally closed at 43662.90 near its day’s lows with a loss of 211 points. PSU and PVT BANK both indices have moved almost the same today, saw an intraday decline, and closed lower by 0.51% &0.61% respectively. Within the index, in terms of points, INDUSIND BANK contributed the highest on the upside while HDFC BANK contributed the lowest. For today, we have suggested a trade which was to buy on a dip at or below 43400 or buy on a breakout above 44150. The index did not touch either level so the trade did not execute. The short-term trend is sideways now since the index is moving range bound. We have mentioned support around 43000 and resistance around the lifetime high recorded at


SUN PHARMA 952.15 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 954.95 with a stop loss of 944.90 and a target of 974.35.
FEDERAL BANK 123.80 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 123.40 with a stop loss of 124.65 and a target of 120.95.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATA CHEM (29 JUNE)  1000 CE BUY 24.50 CMP 20 33 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DEEPAKNTR.23.05 May 2132.7 9.3 -29.97 455000 ADANIENT.23.05 May 2479.9 -5.7 -42.3 2594750
DIXON.23.05 May 3513.8 7.4 -42.02 322500 CUMMINSIND.23.05 May 1593.2 -5.46 -44.44 602400
LAURUSLABS.23.05 May 334.7 6.22 -53.12 3135000 INDIACEM.23.05 May 189.95 -3.14 -47.9 4283300
CROMPTON.23.05 May 276 3.6 -58.05 2325000 SHREECEM.23.05 May 24015.05 -2.95 -46.46 62500
BANDHANBNK.23.05 May 260.5 2.86 -57.96 7556400 MCX.23.05 May 1355.3 -2.7 -29.37 644400


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 235.8 0.73 6658479 6920779 74.07 Nifty50 18285.4 -0.34 32774462
United Spirits Limited 835.3 1.62 892521 795533 74.07 Niftybank 43677.85 -0.63 13710736
Sun Pharma  Ltd 952.15 2.21 2953574 2264258 74.05 Nifty it 28890.8 0.06 752564
Crompton Greaves Consume 276.2 3.8 13658556 7282742 73.19 India Vix 13.11 4.05 459369949
Mah & Mah Ltd. 1275.7 0.56 1369297 1278558 70.88 Nifty Fmcg 49355.25 0.48 318443
Dabur India Ltd. 526.7 0.18 2304274 1063259 70.84 Nifty Pharma 12440.45 1.03 48343038
Tata Consultancy Serv Lt 3303.35 0.19 1016555 1191550 70.61 Nifty Realty 461.55 -0.01 1298714320
Alkem 3310.1 1.6 251572 262577 70.29 Nifty Auto 13989.6 0.05 42894498
Indigo 2269 -0.36 1205803 426778 67.11 Nifty Metal 5855.15 -1.56 101491220
Petronet Lng Limited 225.15 0.11 1198122 754467 67.01 Nifty Financial Services 19243 -0.8 4677465


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Mar) on 31st May, 2023

INR: GDP Quarterly (YoY) (Q4) on 31st May, 2023

 USD: GDP (QoQ) (Q1) on 25th May, 2023

USD: Pending Home Sales (MoM) (Apr) on 25th May, 2023


  • The Indian equity market snapped a 3-day winning streak and ended lower in yet another volatile session on May 24. At close, the Sensex was down 208.01 points or 0.34% at 61,773.78, while the Nifty was down 62.60 points or 0.34% at 18,285.40.

  • Hindalco Industries on May 24 reported net consolidated profit for the quarter ended March at Rs 2,411 crore, down 37 percent from Rs 3,860 crore in the same quarter a year ago. Its revenue from operations came in at Rs 55,857 crore, rising 0.16 percent from Rs 55,764 crore in the corresponding quarter last year, the aluminium maker said in an exchange filing.

  • FSN E-Commerce Ventures, which operates Nykaa, on May 24 reported net consolidated profit for the quarter ended March at Rs 2.41 crore, down 71.83 percent from Rs 8.56 crore in the same quarter a year ago. Its revenue from operations came in at Rs 1,301.72 crore, rising 33.74 percent from Rs 973.32 crore in the corresponding quarter last year, the company said in an exchange filing.
  • Cummins India reports 61% jump in Q4 profit on robust domestic, international demand. The company reported consolidated profit after tax at 3.49 billion rupees ($42.7 million) in the three months ended March 31, compared to 2.16 billion rupees a year earlier.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
21STCENMGM Audited Results 25-May-23 BALMLAWRIE Bonus issue;Buy Back of Shares;Audited Results;Final Dividend;General 25-May-23
ACCEL Audited Results;General 25-May-23 BCONCEPTS Audited Results 25-May-23
ACEEDU Audited Results 25-May-23 BDL Audited Results;Final Dividend 25-May-23
ACFSL Audited Results;General 25-May-23 BEARDSELL Audited Results;Final Dividend;General 25-May-23
ADESHWAR Audited Results 25-May-23 BECTORFOOD Audited Results;Final Dividend 25-May-23
ADSL Audited Results;Final Dividend;General 25-May-23 BENGALT Audited Results;Final Dividend 25-May-23
AHMDSTE General 25-May-23 BFLAFL Audited Results 25-May-23
AIAENG Audited Results;Dividend;Quarterly Results 25-May-23 BHARATGEAR Audited Results 25-May-23
AMITSEC Audited Results 25-May-23 BINANIIND Audited Results 25-May-23
AMS Audited Results 25-May-23 BJDUP Audited Results 25-May-23
ANSINDUS Audited Results 25-May-23 BLSINFOTE Audited Results;Quarterly Results 25-May-23
ANTARIKSH Audited Results;General 25-May-23 BLUECHIPT Audited Results 25-May-23
ANUBHAV Audited Results 25-May-23 BLUECLOUDS Audited Results;General;Quarterly Results 25-May-23
ANZEN Audited Results;General 25-May-23 BNALTD Dividend;Audited Results 25-May-23
APTANN Quarterly Results 25-May-23 BRNL Audited Results 25-May-23
ARAMBHAN Audited Results;Half Yearly Results;General 25-May-23 BSELINFRA Audited Results;General 25-May-23
ARAVALIS Audited Results 25-May-23 CARYSIL Audited Results;Final Dividend 25-May-23
ARUNAHTEL Audited Results;General 25-May-23 CEENIK Audited Results;General 25-May-23
ASHAPURMIN Audited Results;Final Dividend 25-May-23 CEINSYSTECH Audited Results;General 25-May-23
ASTERDM Audited Results 25-May-23 CHEVIOT Audited Results;Final Dividend 25-May-23
AUTOINT Audited Results;Quarterly Results 25-May-23 CHRTEDCA Audited Results;Quarterly Results 25-May-23
AXISCADES Audited Results 25-May-23 CNIRESLTD Quarterly Results 25-May-23
BABA Audited Results 25-May-23 COCHINM Dividend;Audited Results 25-May-23
BAJGLOB Audited Results;Quarterly Results 25-May-23 COCKERILL Audited Results;Final Dividend 25-May-23
BALGOPAL Audited Results 25-May-23 COLORCHIPS Audited Results 25-May-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GENPHARMA 25-May-23 E.G.M. SBIN 31-May-23 Dividend – Rs. – 11.3000
KANSAINER 25-May-23 Final Dividend – Rs. – 2.7000 APTECHT 01-Jun-23 Dividend
KENNAMET 25-May-23 Interim Dividend – Rs. – 20.0000 SHREECEM 01-Jun-23 Interim Dividend – Rs. – 55.0000
TRENT 25-May-23 Dividend – Rs. – 2.2000 SIL 01-Jun-23 Interim Dividend – Rs. – 0.8000
BIRET 26-May-23 Income Distribution RITES TRIDENT 01-Jun-23 Interim Dividend
PGIL 26-May-23 Interim Dividend – Rs. – 5.0000 ANZEN 02-Jun-23 Income Distribution (InvIT)
RADHIKAJWE 26-May-23 Stock  Split From Rs.10/- to Rs.2/- EDELWEISS 02-Jun-23 Spin Off
SIMPLXMIL 26-May-23 Consolidation of Shares HAVELLS 02-Jun-23 Final Dividend – Rs. – 4.5000
SIMPLXPAP 26-May-23 Consolidation of Shares INFY 02-Jun-23 Final Dividend – Rs. – 17.5000
VSSL 26-May-23 Bonus issue 1:1 JSWENERGY 02-Jun-23 Final Dividend – Rs. – 2.0000
ANANDRATHI 29-May-23 Final Dividend – Rs. – 7.0000 MAHINDCIE 02-Jun-23 Final Dividend – Rs. – 2.5000
DATAINFRA 29-May-23 Income Distribution (InvIT) PAGEIND 02-Jun-23 Interim Dividend
IRB 29-May-23 Interim Dividend – Rs. – 0.0750 STEELCAS 02-Jun-23 Special Dividend – Rs. – 3.1500
MMFL 29-May-23 Interim Dividend – Rs. – 6.0000 SYLPH 02-Jun-23 Stock  Split From Rs.10/- to Rs.1/-
ITC 30-May-23 Final Dividend – Rs. – 6.7500 HARDWYN 05-Jun-23 Bonus issue 1:3
ITC 30-May-23 Special Dividend – Rs. – 2.7500 HARDWYN 05-Jun-23 Stock  Split From Rs.10/- to Rs.1/-
RALLIS 30-May-23 Final Dividend – Rs. – 2.5000 NELCO 06-Jun-23 Dividend – Rs. – 2.0000
VEDL 30-May-23 Interim Dividend – Rs. – 18.5000 SESHAPAPER 07-Jun-23 Dividend – Rs. – 6.0000
ADVANIHOTR 31-May-23 Interim Dividend – Rs. – 1.4000 TATAPOWER 07-Jun-23 Final Dividend – Rs. – 2.0000
BGJL 31-May-23 Right Issue of Equity Shares BIKAJI 08-Jun-23 Final Dividend – Rs. – 0.7500
DBCORP 31-May-23 Interim Dividend – Rs. – 3.0000 PONNIERODE 08-Jun-23 Final Dividend – Rs. – 6.5000
PGINVIT 31-May-23 Income Distribution (InvIT) RCL 08-Jun-23 Stock  Split From Rs.10/- to Rs.1/-

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