The NIFTY opened at 21661.10 without much of a gap. The index recorded its intraday high at 21677 in its initial trades and saw a sharp decline for the first hour of trading. Prices then started moving sideways. That range-bound movement continued for the next four hours of trading where prices moved within a narrow range of just 60 points. The index broke down eventually and saw a sharp decline in the last 30 minutes of trading to record its intraday low at 21500.35. Prices have finally closed at 21517.35 with a loss of 148.45 points or 0.69% down. The REALTY outperformed and closed with a gain of 1.23% followed by PHARMA, OIL GAS, and MEDIA. IT underperformed and ended with a loss of 2.52% followed by METAL which ended 1.181% down. 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 been moving down and reached the weak zone. Both the momentums have started contradicting each other suggesting confusion amongst the traders.


The BANK NIFTY opened at 47796.30 with a gap up of 86 points. Prices initially moved lower sharply for the first half an hour and then found support around 47500. The index bounced up and saw an upside rally that faced resistance around the early morning highs. Prices could not surpass the early morning highs, recorded it’s intraday low at 47481.35, and it’s intraday high at 47798.75. The index finally closed at 47738.55 with a gain of just 28 points. PSU BANKs have outperformed, saw a sharp upside move, and closed with a gain of 1.15%. PVT BANKs have underperformed, moved sideways, and finally ended with a gain of just 0.05%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while HDFC BANK contributed the lowest. BANK NIFTY moved very volatile and ended the session almost on a flat note. We have to wait for one more day of higher closing above 47500 to confirm if this support is holding or not. As of now, we should step aside and watch how prices behave around the above-mentioned support levels.


AXISBANK 1105.95 BUY Intermediate and short-term trends are sideways in AXISBANK. The stock has seen a sharp upside move and then started a process of correction. Prices have found strong support around 1090 and bounced up. We may see an upside move here. Traders should look for a buying opportunity above 1108 with a stop just above 1094 and a target around 1136.
PERSISTENT 7262.20 BUY Intermediate and short-term trends are sideways in PERSISTENT. The stock has seen a sharp upside move and then started a process of correction. Prices found strong support around 7200 and bounced up. We may see an upside move here. Traders should look for a buying opportunity above 7280 with a stop just below 7200 and a target around 7440.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BIOCON.24.01 Jan 284.95 6.42 3.33 39930000 NATIONALUM.24.01 Jan 130.45 -6.85 28.43 92632500
BANDHANBNK.24.01 Jan 255.5 4.69 7.35 103230000 JSWSTEEL.24.01 Jan 840.85 -3.95 7.03 17497350
BAJAJ-AUTO.24.01 Jan 6965 4.09 27.7 2226250 BHEL.24.01 Jan 195.55 -3.88 9.1 108270750
INDUSTOWER.24.01 Jan 210 3.37 4.82 88257200 TATASTEEL.24.01 Jan 135.3 -3.43 8.66 221518000
MANAPPURAM.24.01 Jan 174.85 3.25 0.38 59724000 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
CANBK.24.01 Jan 462 3.31 -1.2 50706000 HINDALCO.24.01 Jan 595.2 -3.96 -1.32 35456400
PVRINOX.24.01 Jan 1717.15 2.2 -0.57 5339433 SAIL.24.01 Jan 119.95 -3.03 -3.11 165784000
GODREJPROP.24.01 Jan 2063.25 1.86 -2.15 3451350 IEX.24.01 Jan 163.55 -2.15 -2.7 82361250
TVSMOTOR.24.01 Jan 2011 1.66 -0.19 5907300 HINDCOPPER.24.01 Jan 267.25 -1.35 -1.61 33655000
OBEROIRLTY.24.01 Jan 1472 1.48 -1.61 7207200 ZEEL.24.01 Jan 286.05 -1.26 -1.64 111252000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 1169.6 0.9 1503336 916942 76.3 Nifty50 21517.35 -0.69 71454
Bharti Airtel Limited 1035.2 1.32 3604276 5237800 76.29 Niftybank 47704.95 -0.12 71457
Maruti Suzuki India Ltd 10077.65 -1.18 521046 564333 72.64 Nifty it 34395.45 -2.52 71457
Balkrishna Ind. Ltd 2505.9 -0.63 142806 218922 71.23 India Vix 14.1 -3.29 71604
Infosys Limited 1490 -2.89 7550363 3802441 70.46 Nifty Fmcg 57213.3 0.01 71457
Tata Consultancy Serv Lt 3691.75 -2.42 1803075 928322 69.07 Nifty Pharma 17379.8 0.61 71457
Info Edge (india) Limite 5088 -0.75 159354 194587 67.66 Nifty Realty 788 1.23 71457
Max Financial Services l 933.05 0.09 362277 366482 66.14 Nifty Auto 18317.5 -0.12 71457
Hcl Technologies Ltd. 1437.75 -2.16 1651716 948862 65.85 Nifty Metal 7878.4 -1.81 71457
Larsen & Toubro Limited 3440.35 0.07 1283859 969027 64.11 Nifty50 21517.35 -0.69 71454


   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 05th January, 2024

INR: Nikkei Services PMI (Dec) on 05th January, 2024

USD: Initial Jobless Claims on 04th January, 2024

USD: Services PMI (Dec) on 04th January, 2024


  • India’s benchmark stock indices ended lower for a second day in a row on Wednesday as HDFC Bank Ltd, Infosys Ltd, and Reliance Industries Ltd weighed. Intraday, the benchmark S&P BSE Sensex declined 0.82% 0r 588.51 points to 71,303.97, while the NSE Nifty 50 fell 0.76% or 165.45 points to 21,500.35.

  • Adani-Hindenburg Case: Supreme Court Gives Clean Chit To Adani Group, Dismisses All Allegations The top court disposed of the petitions, finding that the ‘threshold for a transfer of investigation’ has not been made out.

  • Private lender RBL Bank Ltd. has sold around Rs 800 crore worth of bad loans in a stressed asset deal, according to two people with direct knowledge of the matter. The transaction was conducted at a discount of 97-98% of the gross book value of the assets, the people quoted above said. This implies a return of 2-3% for the bank.
  • Bajaj Auto Ltd. said on Wednesday its board of directors will consider a proposal for a buyback of fully paid-up equity shares in a meeting on Jan. 8.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ACEMEN General;Quarterly Results 04-Jan-24 MIC General 05-Jan-24
BLSINFOTE General 04-Jan-24 MUNCAPM Preferential Issue of shares 05-Jan-24
COMPUPN General 04-Jan-24 MYSPAPE Quarterly Results 05-Jan-24
DEVLAB General 04-Jan-24 QGO General 05-Jan-24
GMBREW Quarterly Results 04-Jan-24 STCORP Quarterly Results 05-Jan-24
GRASIM General 04-Jan-24 BINNYMILLS General 06-Jan-24
INDRENEW Quarterly Results 04-Jan-24 CORNE General;Quarterly Results 06-Jan-24
JAINCO General 04-Jan-24 GOODLUCK General 06-Jan-24
PRIMEFRESH Employees Stock Option Plan;General 04-Jan-24 MPL General 06-Jan-24
RAJNISH General 04-Jan-24 REGENCY Preferential Issue of shares;Increase in Authorised Capital 06-Jan-24
SALEM General 04-Jan-24 SHRAJSYNQ Preferential Issue of shares;General;Increase in Authorised Capital 06-Jan-24
SPRAYKING General 04-Jan-24 VLEGOV Quarterly Results 06-Jan-24
THEBYKE General 04-Jan-24 CHLLTD General 08-Jan-24
ADCON Right Issue of Equity Shares 05-Jan-24 FRANKLININD Quarterly Results;General 08-Jan-24
HIMFIBP General 05-Jan-24 GDLLEAS Quarterly Results 08-Jan-24
KSCL Buy Back of Shares 05-Jan-24 INDXTRA Quarterly Results 08-Jan-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AKSHAR 04-Jan-24 Interim Dividend – Rs. – 0.0100 OLPCL 11-Jan-24 E.G.M.
7NR 05-Jan-24 Consolidation of Shares ASCENSIVE 12-Jan-24 E.G.M.
ELEMARB 05-Jan-24 Buy Back of Shares INFRATRUST 12-Jan-24 Income Distribution (InvIT)
FISCHER 05-Jan-24 E.G.M. KAUSHALYA 12-Jan-24 Consolidation of Shares
KANANIIND 05-Jan-24 E.G.M. NEWGEN 12-Jan-24 Bonus issue 1:1
MLINDLTD 05-Jan-24 Bonus issue 1:50 SPENTEX 12-Jan-24 Resolution Plan -Suspension
NESTLEIND 05-Jan-24 Stock  Split From Rs.10/- to Rs.1/- RAJATH 16-Jan-24 E.G.M.
PGIL 05-Jan-24 Stock  Split From Rs.10/- to Rs.5/- TRISHAKT 16-Jan-24 Stock  Split From Rs.10/- to Rs.2/-
GARGFUR 08-Jan-24 E.G.M. HCLTECH 19-Jan-24 Interim Dividend
QUEST 08-Jan-24 Right Issue of Equity Shares TCS 19-Jan-24 Interim Dividend
COCHINSHIP 10-Jan-24 Stock  Split From Rs.10/- to Rs.5/- ANGELONE 23-Jan-24 Interim Dividend
ESSENTIA 11-Jan-24 Bonus issue 1:1 ASARFI 23-Jan-24 E.G.M.
FRANKLININD 11-Jan-24 Stock  Split From Rs.10/- to Rs.1/- BRIJLEAS 25-Jan-24 E.G.M.
FREDUN 11-Jan-24 E.G.M. KSOLVES 25-Jan-24 Interim Dividend

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