NIFTY opened at 21497.65 with a gap up of 56 points. The index continued its early morning bullish momentum and moved higher from its opening tick. The rally was sharp which lasted till the end and prices recorded its intraday high at 21675.75. The NIFTY finally closed at 21654.75 with a gain of 213.40 points or 1% up. All the sectoral indices have moved in line with the NIFTY and closed higher except for OIL GAS which ended with a marginal loss. AUTO, METAL, and BANK have led the bulls and ended with a gain of over 1%. We have been tracking a support level of around 21000 and a resistance level of around 21600. The NIFTY broke above 21600 resistance and closed higher. The index also recorded lifetime new highs at 61675.75. The short-term trend is up. The index has been moving higher for the past four trading days after a sharp one-day dip. Fresh support is now visible around 21250 while there is no visible resistance as prices are moving in uncharted territory. The long-term trend is up while the long-term momentum has been moving inside the strength zone for the past few days.


BANK NIFTY opened at 47818.50 with a gap up of 56 points. A sharp rally came but the index saw a dip in the afternoon. However, prices again bounced up and rallied higher. The rally lasted till the end, prices recorded its intraday high at 48347.65 and finally closed at 48280.55 with a gain of 518 points. PSU BANKS have outperformed, saw a sharp upside move, and closed with a gain of 2.06%. PVT BANKs have also moved higher, saw a mild up move, and closed with a gain of 0.97%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside followed by ICICI BANK. The breakout has changed the short-term trend on the upside again. We should now look for a buying opportunity only on any dip or consolidation breakout. Fresh support is now visible around 47500 while there is no visible resistance as the index is moving in uncharted territory.


Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDALCO.23.12 Dec 605.05 4.5 13.37 15125600 CUMMINSIND.23.12 Dec 1995 -1.5 0.22 827400
DALBHARAT.23.12 Dec 2326.5 3.74 6.55 1248000 MGL.23.12 Dec 1176.5 -1.42 6.21 1217600
GRASIM.23.12 Dec 2126 2.72 4 4107800 CUB.23.12 Dec 147.7 -0.81 13 16250000
TATAMOTORS.23.12 Dec 739 2.48 4.61 31099200 ONGC.23.12 Dec 205.5 -0.72 9.31 32186000
ACC.23.12 Dec 2163.4 2.39 10.33 2124900 TORNTPHARM.23.12 Dec 2267 -0.66 2.25 636000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ULTRACEMCO.23.12 Dec 10462.5 4.43 -4.83 1052200 VEDL.23.12 Dec 252.45  -3.57 -25.45 25738000
PNB.23.12 Dec 92.1 3.77 -15.5 75240000 METROPOLIS.23.12 Dec 1666 -1.95 -31.91 324400
BAJAJ-AUTO.23.12 Dec 6691.05 3.71 -15.01 592375 RECLTD.23.12 Dec 411.55 -1.77 -16.96 15258000
BANKBARODA.23.12 Dec 232.25 3.13 -0.54 64186200 COROMANDEL.23.12 Dec 1242.95 -1.75 -1.7 646800
JSWSTEEL.23.12 Dec 879.45 2.88 -1.26 6450300 GNFC.23.12 Dec 739.15 -1.75 -6.79 4101500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Max Financial Services 955.7 2.75 488366 730663 79.38 Nifty50 21654.75 1 71442
Dabur India Ltd. 534.35 0.71 3308899 1258565 76.04 Niftybank 48282.2 1.17 71442
Sun Pharma  Ltd 1252.45 0.4 2005268 1269308 70.66 Nifty it 35741 0.7 71442
Oracle Fin Serv Soft Ltd 4194.5 0.86 125786 102194 70.4 India Vix 15.56 5.99 71583
Hindustan Unilever Ltd 2608.3 0.91 1073278 628737 70.35 Nifty Fmcg 55750.35 0.48 71442
Ultratech Cement Limited 10436.1 4.17 658122 156559 69.24 Nifty Pharma 16655.95 0.56 71442
Icici Prudential Life In 526.6 0.52 1839214 1470110 66.98 Nifty Realty 770.1 0.68 71442
Larsen & Toubro Limited 3544 1.55 1389266 710068 66.22 Nifty Auto 18224.85 1.51 71442
Kotak Mahindra Bank Limi 1902.35 0.82 3407243 2851857 65.55 Nifty Metal 7847.75 1.39 71442
Gujgasltd 449.9 -0.32 4416912 931540 64.78 Nifty Financial Services 21465.7 0.96 71442

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 29th December, 2023

INR: RBI Monetary and Credit Information Review on 29th December, 2023

USD: Manufacturing PMI (Dec) on 02nd January, 2024

USD: JOLTs Job Openings (Nov) on 03rd January, 2024

News Updates

  • Bulls kept domestic markets on a solid ground with both NSE Nifty and BSE Sensex hitting new all-time highs towards the end of trading session on December 28. This comes on the back of improving global sentiments, wherein traders have rapidly raised bets on interest rate cuts as early as March 2024. The BSE Sensex clocked record high of 72,484 levels to eventually end 0.5 percent higher at 72,410 levels, while NSE Nifty 50 index breezed past 21,800-mark to end 0.5 percent up at 21,778 levels on December 28.

  • The Reserve Bank of India’s (RBI) Financial Stability Report released on December 28 stated that schedule commercial banks are well capitalised and capable of absorbing macroeconomic shocks over a one-year horizon. Under the baseline scenario, the aggregate CRAR of 46 major banks is projected to slip from 16.6 per cent in September 2023 to 14.8 per cent by September 2024.

  • FirstCry parent Brainbees files IPO papers with SEBI; FirstCry will raise Rs 1,816 crore through a primary issue while existing investors like M&M, SoftBank and others will sell a total of 5.44 crore shares via an Offer for Sale (OFS).

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
CRSTCHM General 29-Dec-23 KPEL Bonus issue;Increase in Authorised Capital;General 30-Dec-23
DHANFAB General 29-Dec-23 VALENCIA Right Issue of Equity Shares;General 30-Dec-23
INTELLCAP Bonus issue;General 29-Dec-23 BLUBLND-B Audited Results 31-Dec-23
LKPFIN General 29-Dec-23 GENSOL Rights Issue;Preferential Issue of shares;General 01-Jan-24
MRCAGRO General 29-Dec-23 MERCURYEV Issue Of Warrants;Rights Issue;Preferential Issue of shares;General 01-Jan-24
MUZALI General 29-Dec-23 QUEST Right Issue of Equity Shares 01-Jan-24
NORRIS General 29-Dec-23 SUPRAPFSL Preferential Issue of shares;General 01-Jan-24
POWERGRID General 29-Dec-23 PARMSILK General 02-Jan-24
PRITIKAUTO General 29-Dec-23 WARDWIZFBL Preferential Issue of shares;General 02-Jan-24
SHAH General 29-Dec-23 ADANIPORTS General 03-Jan-24
TRELCHE-B General 29-Dec-23 ADTYFRG General 03-Jan-24
VIVANTA General 29-Dec-23 STEP2COR Increase in Authorised Capital;Preferential Issue of shares;General 03-Jan-24
WABAG Employees Stock Option Plan 29-Dec-23 SUKHJITS Interim Dividend 03-Jan-24
ALFAVIO General 30-Dec-23 GMBREW Quarterly Results 04-Jan-24
EVERTEX General 30-Dec-23 PRIMEFRESH Employees Stock Option Plan;General 04-Jan-24
KBCGLOBAL Quarterly Results;General 30-Dec-23 RAJNISH General 04-Jan-24

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CANFINHOME 29-Dec-23 Interim Dividend – Rs. – 2.0000 ELEMARB 05-Jan-24 Buy Back of Shares
HMAAGRO 29-Dec-23 Stock  Split From Rs.10/- to Rs.1/- FISCHER 05-Jan-24 E.G.M.
STANCAP 29-Dec-23 Bonus issue 2:1 KANANIIND 05-Jan-24 E.G.M.
STANCAP 29-Dec-23 Stock  Split From Rs.10/- to Rs.1/- NESTLEIND 05-Jan-24 Stock  Split From Rs.10/- to Rs.1/-
KRIFILIND 01-Jan-24 E.G.M. PGIL 05-Jan-24 Stock  Split From Rs.10/- to Rs.5/-
STML 01-Jan-24 E.G.M. GARGFUR 08-Jan-24 E.G.M.
ALLCARGO 02-Jan-24 Bonus issue 3:1 COCHINSHIP 10-Jan-24 Stock  Split From Rs.10/- to Rs.5/-
BHANDERI 02-Jan-24 E.G.M. FREDUN 11-Jan-24 E.G.M.
REGENCERAM 02-Jan-24 E.G.M. KAUSHALYA 12-Jan-24 Consolidation of Shares
INLCM 03-Jan-24 Stock  Split From Rs.100/- to Rs.10/- NEWGEN 12-Jan-24 Bonus issue 1:1
AKSHAR 04-Jan-24 Interim Dividend – Rs. – 0.0100 HCLTECH 19-Jan-24 Interim Dividend
7NR 05-Jan-24 Consolidation of Shares ANGELONE 23-Jan-24 Interim Dividend

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