The NIFTY opened at 17813.10 without any gap. The index started moving higher from its opening tick and recorded its intraday low at 17797.90. Prices have seen a sharp intraday rally throughout the day. Minor dips in between found support quickly and the index went above 17900 to record its intraday high at 1793160. The NIFTY finally closed at 17915.05 near its day’s highs with a gain of 101.45 points or 0.57% up. All the sectoral indices have moved up today and closed with gains except FMCG which ended with a minor loss. The REALTY and IT outperformed today and gained over 1% followed by AUTO and METAL. The short-term trend is up and the index has crossed and dosed well above the 17800 resistance level. Support is now shifted around 17600 while a strong resistance zone is visible around the 18100-18200 range.


The BANK NIFTY opened at 42753.90 with a gap down of 113 points. The index recovered quickly and bounced up after recording its intraday low at 42736.60. The index started a consolidation process afterward, moving sideways until the end. Prices have recorded its intraday high at 43043.40 and finally dosed at 42962.10 with a gain of 96 points. PSU and PVT BANK both indices have performed almost the same today, saw an upside move, and closed with a gain of 0.26% &0.60% respectively Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while AXIS BANK contributed the lowest. Support is now visible around 42000 which is also the recent swing low while resistance is visible around 43000. The index is now trading very near the resistance level. As far as prices are trading above 42000, we should look for buying only on any dip or consolidation breakout.


M & M 1224.00 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1225.35 with a stop loss of 1218.20 and a target of 1239.90.
HUL 2468.95 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2456.30 with a stop loss of 2473.55 and a target of 2426.15.


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
CUB.23.04 Apr 139.15 4.62 5.74 8385000 HDFCLIFE.23.04 Apr 519.45 -2.3 9.23 3644300
SYNGENE.23.04 Apr 648 3.7 1.79 512000 GODREJCP.23.04 Apr 955.15 -2.2 45.39 1845000
IOC.23.04 Apr 80.45 2.48 12.35 24755250 GUJGASLTD.23.04 Apr 454.9 -1.83 0.2 1890000
BAJFINANCE.23.04 Apr 6190 2.33 18.66 1854500 HINDUNILVR.23.04 Apr 2467.55 -1.71 51.62 3841200
BAJAJFINSV.23.04 Apr 1362.5 2.19 14.99 3244500 PIDILITIND.23.04 Apr 2388.95 -1.07 45.27 970750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LTTS.23.04 Apr 3728.1 8.36 -60.89 188200 VOLTAS.23.04 Apr 806.05 -5.93 -4.03 1299600
GLENMARK.23.04 Apr 555 6.38 -13.15 1474650 GNFC.23.04 Apr 575.5 -1.78 -26.68 1246700
IDEA.23.04 Apr 6.9 4.55 -32.06 160370000 ESCORTS.23.04 Apr 1941 -1.65 -39.18 237325
RBLBANK.23.04 Apr 159.1 3.68 -2.4 7915000 LUPIN.23.04 Apr 696.35 -1.47 -5.16 1110100
LTIM.23.04 Apr 4311.15 3.65 -11.35 341100 BALRAMCHIN.23.04 Apr 420.2 -1.35 -11.29 1897600


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Abbott India Limited 22147.35 -0.73 9489 30377 87.29 Nifty50 17915.05 0.57 87432
Sun Pharma  Ltd 978.7 0.77 2777173 2280298 78.33 Niftybank 43000.85 0.4 87432
Ntpc Limited 170.95 0.65 9054900 6840123 75.73 Nifty it 27355.25 1.07 87432
Hdfc Ltd. 2772.9 0.41 3347433 1678349 74.68 India Vix 11.43 -1.93 87432
Srf Ltd. 2495.5 -0.04 133131 305340 74.06 Nifty Fmcg 47360.15 -0.06 87429
Hindustan Unilever Ltd 2468.95 -1.67 2743893 918624 73.73 Nifty Pharma 12519.35 0.49 87429
Upl Limited 727.2 1.66 2470510 2635035 72.76 Nifty Realty 442.6 1.53 87429
Colgate Palmolive (india 1579.3 0.3 256708 190598 71.66 Nifty Auto 13071.8 0.76 87429
Power Grid Corporation o 235.95 -0.99 7345843 6910526 67.84 Nifty Metal 5753.75 0.71 87429
Muthootfin 1012.1 -0.47 789892 508224 67.76 Nifty Financial Services 19097.15 0.5 87429


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Mar) on 28th April, 2023

INR: Infrastructure Output (YoY) (Mar) on 28th April, 2023

 USD: Core PCE Price Index (MoM) (Mar) on 28th April, 2023

USD: ISM Manufacturing PMI (Apr) on 1st May, 2023


  • Benchmark indices ended higher with Nifty above 17900 on April F&O expiry day. At close, the Sensex was up 348.80 points or 0.58 percentat 60,649.38, and the Nifty was up 101.40 points or 0.57percentat 17,915. About 1,970 shares advanced, 1,421 declined, and 126 were unchanged.

  • Wipro on April 27 reported a 0.4 percent YoY decline in its consolidated net profit for the quarter ended March 2023 (Q4FY23) at Rs 3075 crore, as against Rs 3,087 crore a year ago. The company had reported a profit of Rs 3,053 crore in the last quarter.

  • Tech Mahindra’s net employee addition for the full fiscal year of FY23 was significantly down by 95.93 percent with an addition of 1,227 employees, as compared to 30,119 in FY22. This was in line with the industry-wide trend of slowdown in hiring after a year-long rally of record employee addition in the previous fiscal.

  • Godrej Consumer Products confirmed on April 27 that it will acquire Raymond’s consumer care business in an all-cash deal for Rs 2,825 crore. The deal is expected to be completed by May 10.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ARHNTTO Issue Of Warrants;Preferential Issue of shares 28-Apr-23 M&MFIN Audited Results;Dividend;General 28-Apr-23
ASAL Audited Results;General 28-Apr-23 MAHEPC Audited Results;Quarterly Results 28-Apr-23
ATUL Audited Results;Final Dividend 28-Apr-23 MANYAVAR Audited Results;Final Dividend 28-Apr-23
AXITA Audited Results;General;Quarterly Results 28-Apr-23 MENONBE Audited Results 28-Apr-23
BCG General 28-Apr-23 MITSHI Audited Results 28-Apr-23
CARTRADE Audited Results;Quarterly Results 28-Apr-23 MRPL Audited Results;Dividend 28-Apr-23
CCCL Audited Results 28-Apr-23 MUDRA Audited Results;Quarterly Results 28-Apr-23
CIFL Audited Results;Final Dividend 28-Apr-23 MUKTA Audited Results;General 28-Apr-23
CORNE General 28-Apr-23 NIBE Audited Results;Dividend 28-Apr-23
CPL Increase in Authorised Capital;Issue Of Warrants;General 28-Apr-23 NXTDIGITAL Audited Results;Final Dividend 28-Apr-23
CSBBANK Audited Results 28-Apr-23 ORIENTCEM Audited Results;Final Dividend 28-Apr-23
DATAMATICS Audited Results;Final Dividend;General 28-Apr-23 PARMSILK General 28-Apr-23
DBSTOCKBRO Audited Results;General;Quarterly Results 28-Apr-23 PONNIERODE Audited Results;Final Dividend 28-Apr-23
EMUDHRA Audited Results;Final Dividend 28-Apr-23 PROCLB General 28-Apr-23
ENKEIWHEL Quarterly Results 28-Apr-23 PVP General;Preferential Issue of shares 28-Apr-23
GEOJITFSL Audited Results;General 28-Apr-23 REGENCY A.G.M.;Audited Results;General;Quarterly Results 28-Apr-23
HSCL Audited Results;Final Dividend 28-Apr-23 RKFORGE Audited Results;Interim Dividend;General 28-Apr-23
ICSL Audited Results 28-Apr-23 RPGLIFE Audited Results;Final Dividend 28-Apr-23
INDIAMART Audited Results;Bonus issue;Final Dividend 28-Apr-23 SANGAMIND Audited Results;Dividend 28-Apr-23
INFOBEAN General 28-Apr-23 SATCH Audited Results;General 28-Apr-23
INTECH Audited Results 28-Apr-23 SATIA Audited Results;Final Dividend 28-Apr-23
IOLCP Audited Results;Quarterly Results 28-Apr-23 SBICARD Audited Results 28-Apr-23
JAINCO General 28-Apr-23 SCOOBEEDAY General 28-Apr-23
JINDRILL Audited Results;Dividend;Quarterly Results 28-Apr-23 STARHEALTH Audited Results 28-Apr-23
JUMBO Audited Results;Quarterly Results 28-Apr-23 SUPREMEIND Audited Results;Final Dividend 28-Apr-23
KESORAMIND Audited Results 28-Apr-23 TATAMETALI Audited Results;Final Dividend 28-Apr-23
KHOOBSURAT Audited Results;General 28-Apr-23 THAMBBI Audited Results 28-Apr-23
KICL Audited Results 28-Apr-23 TIAANC Audited Results 28-Apr-23
KRANTI Amalgamation;General 28-Apr-23 TOKYOFIN Audited Results 28-Apr-23
KSL Audited Results;Dividend 28-Apr-23 ULTRACEMCO Audited Results;Final Dividend 28-Apr-23
L&TFH Audited Results 28-Apr-23 VFL Audited Results 28-Apr-23
LKPFIN Audited Results;Final Dividend 28-Apr-23 VISAGAR Audited Results 28-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
HCLTECH 28-Apr-23 Interim Dividend – Rs. – 18.0000 MINDSPACE 10-May-23 Income Distribution RITES
JOSTS 28-Apr-23 Stock  Split From Rs.5/- to Rs.2/- APTUS 12-May-23 Interim Dividend
JSL 28-Apr-23 Special Dividend – Rs. – 1.0000 RISHYRN 12-May-23 E.G.M.
KSB 28-Apr-23 Final Dividend – Rs. – 15.0000 TATACOFFEE 15-May-23 Dividend – Rs. – 3.0000
RAJOOENG 28-Apr-23 E.G.M. VISAKAIND 15-May-23 Stock  Split From Rs.10/- to Rs.2/-
SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000 GMBREW 16-May-23 Final Dividend – Rs. – 6.0000
SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000 HDFCBANK 16-May-23 Final Dividend – Rs. – 19.0000
SERA 28-Apr-23 Stock  Split From Rs.10/- to Rs.2/- TATACONSUM 19-May-23 Final Dividend – Rs. – 8.4500
SPRAYKING 28-Apr-23 Bonus issue 2:3 RALLIS 30-May-23 Final Dividend – Rs. – 2.5000
ELANTAS 02-May-23 Dividend – Rs. – 5.0000 RCL 31-May-23 Stock  Split From Rs.10/- to Rs.1/-
SAMOR 02-May-23 Right Issue of Equity Shares INFY 02-Jun-23 Final Dividend – Rs. – 17.5000
STOVACQ 02-May-23 Final Dividend – Rs. – 47.0000 MAHINDCIE 02-Jun-23 Final Dividend – Rs. – 2.5000
SRUSTEELS 03-May-23 Bonus issue 1:2 DBOL 23-Jun-23 Dividend – Rs. – 3.5000
APOLLO 04-May-23 Stock  Split From Rs.10/- to Rs.1/- NATHBIOGEN 23-Jun-23 Final Dividend – Rs. – 2.0000
CASTROLIND 04-May-23 Final Dividend – Rs. – 3.5000 SPLPETRO 27-Jun-23 Final Dividend – Rs. – 7.0000
COMFINCAP 04-May-23 Stock  Split From Rs.10/- to Rs.2/- BAJAJ-AUTO 30-Jun-23 Final Dividend – Rs. – 140.0000
CRISIL 04-May-23 Interim Dividend – Rs. – 7.0000 BAJFINANCE 30-Jun-23 Final Dividend – Rs. – 30.0000
FRUTION 04-May-23 E.G.M. MAHSCOOTER 30-Jun-23 Final Dividend – Rs. – 60.0000
PHYTO 04-May-23 E.G.M. NAM-INDIA 30-Jun-23 Final Dividend – Rs. – 7.5000
OFSS 09-May-23 Interim Dividend – Rs. – 225.0000 SYNGENE 30-Jun-23 Final Dividend – Rs. – 0.5000
RKFORGE 09-May-23 Interim Dividend SYNGENE 30-Jun-23 Special Dividend – Rs. – 0.7500

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.

For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,

The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.

As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:

(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and

(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.

For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts

This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit
Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail
Options related research:

If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at
Other Disclosures

All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure

Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures

Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website:
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL