The NIFTY opened at 21688 with a gap up of 70 points. The index tried to capitalize on the gap up but failed to do so and started moving downwards after recording its intraday high at 21726.50. Soon the index started a consolidation process and prices moved in a narrow range of just 40 points for about four hours. The range eventually resolved on the downside and the index saw a sharp decline. However, prices recovered toward the end and saw a sharp rally in the last hour of trading after recording its intraday low at 21593.75. The index finally closed at 21647.20 with a gain of just 28.50 points or 0.13% up. OIL GAS & AUTO outperformed, saw a sharp intraday rally and closed with a gain of over 1% followed by BANK and FINANCIAL MEDIA, IT, and FMCG underperformed and closed with a mild loss. The short-term trend is sideways as the index has been moving inside a narrow range of 300 points for the past twelve trading days. The long-term trend is up while the long-term momentum has been moving inside the strength zone but the direction is down. The short-term trend is sideways. The index is trading inside a narrow range. Wait for a decisive breakout.


The BANK NIFTY opened at 47538.60 with a gap up of 179 points. The index continued its early morning bullish momentum and started moving higher from its opening tick but soon found strong resistance. A decline started after prices recorded its intraday high at 47662.10 but soon the index formed a consolidation. The index eventually broke down and prices moved lower to record its intraday low at 47237 and then saw some recovery. BANK NIFTY finally closed at 47445.95 with a gain of just 86 points. PSU and PVT BANKs both indices have performed almost the same, saw a mild upside move, and ended with a gain of 0.64% & 0.41% respectively. Within the index, in terms of points, AXIS BANK contributed the highest on the upside while HDFC BANK contributed the lowest. The short-term trend is sideways now. We have been tracking a narrow trading range of 1500 points with support around 47000 and resistance around 48500. The index has been moving within these two levels for the past one month.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GUJGASLTD.24.01 Jan 545.45 5.68 26.44 8650000 POLYCAB.24.01 Jan 3922 -20.59 103.49 4725800
MGL.24.01 Jan 1250.95 5.59 8.17 2765600 PETRONET.24.01 Jan 231.1 -1.78 7.54 37083000
SHRIRAMFIN.24.01 Jan 2280 5.53 4.6 8113500 DRREDDY.24.01 Jan 5703.9 -1.63 3.42 2204500
TORNTPHARM.24.01 Jan 2469.3 4.63 14.67 1681000 SBILIFE.24.01 Jan 1435.65 -1.58 3.37 7202250
COLPAL.23.05 May 1657.75 3.07 12.81 2733850 HINDUNILVR.24.01 Jan 2548.55 -1.44 5.35 11412900
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ABCAPITAL.24.01 Jan 181.45 4.4 -0.91 68968800 ZEEL.24.01 Jan 248.9 -4.6 -1.33 109842000
MANAPPURAM.24.01 Jan 174.65 3.71 -3.36 53742000 PVRINOX.24.01 Jan 1530.2 -1.93 -2.71 5715501
IDFCFIRSTB.24.01 Jan 87 3.45 -3.26 235275000 HINDCOPPER.24.01 Jan 267 -1.33 -1.82 31370700
M&MFIN.24.01 Jan 278 3.42 -0.06 29432000 SAIL.24.01 Jan 114 -1.17 -0.19 142064000
BAJAJ-AUTO.24.01 Jan 7291.95 3.37 -3.79 2485625 CUMMINSIND.24.01 Jan 2034.9 -0.87 -0.66 3498900


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1393.25 0.37 302118 519388 81.21 Niftybank 47438.35 0.16 71571
Torrent Pharma Ltd. 2468.95 4.93 693516 176216 79.45 Nifty50 21647.2 0.13 71571
Kotak Mahindra Bank Limi 1822.85 0.11 4170070 5393522 76.47 Nifty Realty 865.45 -0.04 71571
Havells India Limited 1430.1 2.83 3886984 1006407 74.34 Nifty Pharma 17380.55 -0.12 71571
Godrej Cons Products Ltd 1155.1 1.21 815483 1120174 74.25 Nifty Metal 7876.15 -0.08 71571
Au Small Finance Bank Li 776.6 0.54 922879 2023689 71.45 Nifty it 34735.25 -0.28 71571
Ultratech Cement Limited 9920.45 1.48 375210 266933 71.31 Nifty Fmcg 56228.55 -0.21 71571
Nestleind 2557.2 -0.81 775667 710595 69.23 Nifty Financial Services 21249.2 0.12 71571
Shriram Finance Limited 2279.75 6.03 2932789 340825 68.97 Nifty Auto 18755.1 1.06 71571
Sun Pharma  Ltd 1316.25 -0.65 1320281 868688 67.95 India Vix 12.77 -1.54 71703


   Domestic                                                                                                                                                  International
INR: Thomson Reuters IPSOS PCSI (MoM) (Jan) on 12th January, 2024

INR: CPI (YoY) (Dec) on 12th January, 2024

USD: PPI (MoM) (Dec) on 12th January, 2024

USD: Retail Sales (MoM) (Dec) on 17th January, 2024


  • Indian benchmark indices ended with marginal gains in the volatile session on January 11. At close, the Sensex was up 63.47 points or 0.09 percent at 71,721.18, and the Nifty was up 28.50 points or 0.13 percent at 21,647.20. About 2022 shares advanced, 1251 shares declined, and 63 shares unchanged.

  • HDFC Asset Management Company on January 11 reported a consolidated net profit of Rs 488 crore for the quarter ended December 2023. Net profit rose 32.2 percent year-on-year from Rs 369.2 crore in the same quarter last fiscal. Meanwhile, consolidated revenue rose 20 percent YoY to Rs 671.3 crore against Rs 559.6 crore in the year-ago period, HDFC AMC said in an exchange filing.

  • Polycab India plunged 22 percent in the morning trade on January 11 after the income tax department said it unearthed “unaccounted cash sales” of about Rs 1,000 crore when it searched the company’s offices the previous day. Meanwhile, multiple block deals worth a total of Rs 1,293 crore also took place on the exchanges.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AMAL Quarterly Results 12-Jan-24 POCL General;Issue Of Warrants;Preferential Issue of shares 12-Jan-24
ANANDRATHI Quarterly Results 12-Jan-24 PVVINFRA General 12-Jan-24
ARTSONEN Quarterly Results 12-Jan-24 RFSL General 12-Jan-24
AVG Issue Of Warrants 12-Jan-24 SCL General;Bonus issue 12-Jan-24
BBL Quarterly Results 12-Jan-24 TATAMETALI Audited Results 12-Jan-24
BIRLAMONEY Quarterly Results 12-Jan-24 TREEHOUSE Quarterly Results 12-Jan-24
CUBIFIN Quarterly Results 12-Jan-24 WIPRO Quarterly Results;Interim Dividend 12-Jan-24
DEN Quarterly Results 12-Jan-24 YUG Right Issue of Equity Shares 12-Jan-24
DSINVEST General 12-Jan-24 CONFINT Quarterly Results 13-Jan-24
HARSHILAGR Quarterly Results;General 12-Jan-24 DMART Quarterly Results 13-Jan-24
HATHWAYB Quarterly Results 12-Jan-24 GIANLIFE Quarterly Results 13-Jan-24
HCLTECH Quarterly Results;Interim Dividend 12-Jan-24 JHACC Preferential Issue of shares 13-Jan-24
HDFCLIFE Quarterly Results 12-Jan-24 JRELTD Quarterly Results;General 13-Jan-24
HITECH Quarterly Results 12-Jan-24 KAMDHENU Preferential Issue of shares;General 13-Jan-24
INDINFO Right Issue of Equity Shares 12-Jan-24 LESHAIND Quarterly Results 13-Jan-24
ITHL Quarterly Results 12-Jan-24 MRP Quarterly Results 13-Jan-24
JTLIND Quarterly Results;General 12-Jan-24 NEOINFRA General 13-Jan-24
JUSTDIAL Quarterly Results 12-Jan-24 POPULARES General 13-Jan-24
KAARYAFSL General;Preferential Issue of shares 12-Jan-24 RADHEDE General;Preferential Issue of shares 13-Jan-24
LKPFIN Quarterly Results 12-Jan-24 RELTD General 13-Jan-24
MISHKA Quarterly Results 12-Jan-24 SSLFINANCE General;Issue Of Warrants 13-Jan-24
NTL Quarterly Results 12-Jan-24 VEDANTASSET General 13-Jan-24


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASCENSIVE 12-Jan-24 E.G.M. ANGELONE 23-Jan-24 Interim Dividend
INFRATRUST 12-Jan-24 Income Distribution (InvIT) ASARFI 23-Jan-24 E.G.M.
KAUSHALYA 12-Jan-24 Consolidation of Shares PRIMEFRESH 24-Jan-24 E.G.M.
NEWGEN 12-Jan-24 Bonus issue 1:1 SHRAJSYNQ 24-Jan-24 E.G.M.
SKIPPER 12-Jan-24 Right Issue of Equity Shares AHLEAST 25-Jan-24 E.G.M.
SPENTEX 12-Jan-24 Resolution Plan -Suspension BRIJLEAS 25-Jan-24 E.G.M.
SUKHJITS 15-Jan-24 Interim Dividend – Rs. – 8.0000 IIFL 25-Jan-24 Interim Dividend
TATACOFFEE 15-Jan-24 Amalgamation KSOLVES 25-Jan-24 Interim Dividend
TATACOFFEE 15-Jan-24 Spin Off RHL 25-Jan-24 E.G.M.
RAJATH 16-Jan-24 E.G.M. ACCELYA 29-Jan-24 Interim Dividend
TRISHAKT 16-Jan-24 Stock  Split From Rs.10/- to Rs.2/- CROPSTER 29-Jan-24 E.G.M.
DHAMPURSUG 17-Jan-24 Buy Back of Shares HITKITGLO 29-Jan-24 E.G.M.
MKEXIM 17-Jan-24 Bonus issue 1:2 GOTHIPL 30-Jan-24 Interim Dividend
CHAMBLFERT 18-Jan-24 Buy Back of Shares REGENCY 01-Feb-24 E.G.M.
HCLTECH 19-Jan-24 Interim Dividend ZENSARTECH 02-Feb-24 Interim Dividend
SBC 19-Jan-24 Bonus issue 1:2 MANCREDIT 08-Feb-24 E.G.M.
TCS 19-Jan-24 Interim Dividend SHREECEM 08-Feb-24 Interim Dividend
MASFIN 22-Jan-24 Interim Dividend – Rs. – 3.0000 VAIBHAVGBL 08-Feb-24 Interim Dividend

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