The NIFTY opened at 21287.45 with a big gap up of 105 points. The index could not sustain at the higher levels and started drifting downwards but soon found support and bounced up sharply. The rally could not last long and prices started a consolidation process in the afternoon. That range eventually broke on the upside and prices have seen a sharp upside rally till the end. The index first recorded its intraday low at 21235.20 in morning trades, then its intraday high at 21492.30 towards the end, and finally closed at 21456.65 near its intraday highs with a gain of 273.95 points or 1.29% up. The IT was the start as the sector closed with a gain of 4.56% followed by METAL and OIL GAS. REALTY underperformed and ended 0.72% lower followed by FMCG, MEDIA, and AUTO. The short-term trend is up and very strong. There is no visible resistance as the index is moving in uncharted territory. We should look for buying only as far as prices are moving above the 21000 mark.


The BANK NIFTY opened at 47939.90 with a gap up of 202 points. The index could not sustain at the higher levels and started drifting downwards. Prices have filled the gap, found support, and then bounced up but soon started a consolidation process. The index broke on the upside after recording its intraday low at 47632.80. A sharp rally came that lasted almost till the end. The index recorded its intraday high at 48219.95 and finally closed at 48080.45 with a gain of 343 points. PSU BANKS have outperformed, saw a sharp upside move, and closed with a gain of 2.39%. PVT BANKs have also moved up, saw a modest rally, and ended with a gain of 0.75%. Within the index, in terms of points, SBIN contributed the highest on the upside while KOTAK BANK contributed the lowest. The short-term trend is up. The index again recorded lifetime new highs at 48219.95. The support is now visible around 47500 whereas there is no visible resistance as prices are moving in uncharted territory.


INDUSIND BANK 1570.80 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1571 with a stop loss of 1547.00 and a target of 1616.00.
ICICI PRUDENTIAL 519.20 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 516.10 with a stop loss of 521.20 and a target of 505.90.


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
NATIONALUM.23.12 Dec 111.35 5.85 16.18 74977500 ICICIPRULI.23.12 Dec 522.05 -2.41 11.34 15094500
HCLTECH.23.12 Dec 1495.15 5.29 5.78 12964000 DALBHARAT.23.12 Dec 2374.55 -1.99 0.51 2723250
TCS.23.12 Dec 3875.5 4.96 0.55 10969350 NESTLEIND.23.12 Dec 24511.2 -1.79 12.96 419120
OFSS.23.12 Dec 4379.65 4.35 11.11 776000 M&MFIN.23.12 Dec 286 -1.77 3.13 29652000
BANDHANBNK.23.12 Dec 255.2 4.1 0.49 85280000 HDFCLIFE.23.12 Dec 672.2 -1.76 9.37 20616200
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PERSISTENT.23.12 Dec 7240.6 5.44 -2.48 1983975 MFSL.23.12 Dec 978.05 -4.47 -11.16 5302400
INFY.23.12 Dec 1583.45 4.74 -4.85 24006000 RECLTD.23.12 Dec 434.25 -2.42 -2.51 39552000
IBULHSGFIN.23.12 Dec 223.25 4.18 -3.92 49694400 PFC.23.12 Dec 414.9 -2.38 -0.61 51491000
COFORGE.23.12 Dec 6430.2 4.08 -2.93 1092000 INDIGO.23.12 Dec 2928.8 -2.17 -1.85 5430900
SBIN.23.12 Dec 651.6 3.84 -5.12 86703000 INDIACEM.23.12 Dec 266.45 -2.15 -2.39 21480300

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Pvr Inox Limited 1776 0.35 3092183 530750 81.93 Nifty50 21456.65 1.29 63464690
Icici Lombard General In 1451.65 -0.77 423327 520036 79.36 Niftybank 48143.55 0.86 28259647
Crompton Greaves Consume 288.85 -1.04 3018951 1769519 79.02 Nifty it 35782.45 4.56 3514156
Sbi Life Insurance Company 1452.5 -1.18 1482700 2320135 78.56 India Vix 13.13 6.57 1047530075
Godrej Cons Products Ltd 1042.15 -0.22 1045194 704748 78.48 Nifty Fmcg 54186.2 -0.32 519068
Bharti Airtel Limited 992.55 -1.26 10119597 4694169 71.76 Nifty Pharma 16179.8 0.15 83838191
Voltas Ltd. 859.85 0.83 1631125 1291475 71.52 Nifty Realty 767.05 -0.71 1761937001
Dabur India Ltd. 539.7 -1.42 2655593 1475054 70.98 Nifty Auto 18038.25 -0.04 75077968
Cummins India Limited 1926.5 -1.06 740405 522444 70.75 Nifty Metal 7735.35 2.13 176136921
Hdfc Bank Ltd. 1656.55 0.39 69418565 12401147 70.52 Nifty Financial Services 21529.75 0.32 10275504

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

  • Bulls power Sensex 969 pts higher, Nifty above 21,400; Bank Nifty above 48,000 At close, the Sensex was up 969.55 points or 1.37 percent at 71,483.75, and the Nifty was up 274.00 points or 1.29 percent at 21,456.70. About 1,796 shares advanced, 1,473 shares declined, and 87 shares unchanged.

  • The government on Friday allowed sugar mills to use both cane juice and B-heavy molasses to produce ethanol but capped the diversion of sugar for the purpose at 17 lakh tonnes for the ongoing 2023-24 supply year. The latest decision comes a week after the government prohibited the use of sugarcane juice and sugar syrup for making ethanol, amid the industry seeking reversal of the decision.

  • Foreign investor positioning on India is light and hence corrections will likely get bought into, wrote Jefferies’ analysts in their Asia Pacific report. They believe that India’s economic outlook is ‘robust’ with around 7 percent multi-year GDP growth likely since the broader capex cycle is in the early stages. The analysts estimate Nifty earnings growth to remain around 15 percent for FY25.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ADITYA General 18-Dec-23 TIHIL General 19-Dec-23
ALEXANDER Preferential Issue of shares;General 18-Dec-23 TRANSCOR General 19-Dec-23
ALMONDZ General 18-Dec-23 VEDL General 19-Dec-23
ARROWHEAD Half Yearly Results 18-Dec-23 XPROINDIA Issue Of Warrants;Preferential Issue of shares;General 19-Dec-23
BLUECLOUDS General 18-Dec-23 BLUECHIPT General 20-Dec-23
BRANDBUCKT Preferential Issue of shares;General 18-Dec-23 FLAIR Quarterly Results 20-Dec-23
COMRADE Preferential Issue of shares 18-Dec-23 JMJFIN General 20-Dec-23
ENERGYDEV Quarterly Results;General 18-Dec-23 MAAGHADV Bonus issue;Stock  Split 20-Dec-23
JTLIND Issue Of Warrants 18-Dec-23 MACINTR Increase in Authorised Capital;Preferential Issue of shares 20-Dec-23
LWSKNIT Right Issue of Equity Shares;General 18-Dec-23 MYSPAPE Quarterly Results 20-Dec-23
PANORAMA Preferential Issue of shares 18-Dec-23 PML General 20-Dec-23
PARACABLES Preferential Issue of shares 18-Dec-23 SWASTIKA Issue Of Warrants 20-Dec-23
SANDUMA Bonus issue 18-Dec-23 UMIYA General 20-Dec-23
SENINFO General 18-Dec-23 ARNOLD Buy Back of Shares 21-Dec-23
VEDL Interim Dividend 18-Dec-23 MODISONLTD General 21-Dec-23
ZWELCAST Voluntary Delisting of Shares 18-Dec-23 SBFC General 21-Dec-23
ENBETRD General 19-Dec-23 STL Bonus issue;Increase in Authorised Capital 21-Dec-23
EVERTEX General 19-Dec-23 TIJARIA General 21-Dec-23
GARGFUR Issue Of Warrants;Preferential Issue of shares 19-Dec-23 UNITECH Quarterly Results 21-Dec-23
SATIN General 19-Dec-23 AKSHAR Bonus issue;Interim Dividend;Buy Back of Shares 22-Dec-23
SIELFNS General 19-Dec-23 CANFINHOME Interim Dividend 22-Dec-23
SRESTHA General 19-Dec-23 GUJARATPOLY General 22-Dec-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
IFL 18-Dec-23 Bonus issue 1:10 PGCRL 22-Dec-23 E.G.M.
EASEMYTRIP 19-Dec-23 Interim Dividend – Rs. – 0.1000 RAWEDGE 22-Dec-23 E.G.M.
INDINFR 19-Dec-23 Income Distribution (InvIT) RSYSTEMINT 22-Dec-23 Interim Dividend – Rs. – 6.8000
PML 19-Dec-23 Bonus issue 2:1 SMAUTO 22-Dec-23 Buy Back of Shares
FRANKLININD 21-Dec-23 E.G.M. SMLT 22-Dec-23 Interim Dividend – Rs. – 1.0000
ALPHALOGIC 22-Dec-23 Bonus issue 1:3 NMSRESRC 27-Dec-23 E.G.M.
AXITA 22-Dec-23 Bonus issue 1:3 VEDL 27-Dec-23 Interim Dividend
CMBL 22-Dec-23 E.G.M. CMMHOSP 28-Dec-23 E.G.M.
GENNEX 22-Dec-23 E.G.M. PIFL 28-Dec-23 E.G.M.
KLRFM 22-Dec-23 Dividend – Rs. – 2.0000 HMAAGRO 29-Dec-23 Stock  Split From Rs.10/- to Rs.1/-

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