The NIFTY opened at 17097.40 with a gap down of 54 points. The index initially moved lower but soon found support around 17050 and bounced up. Prices have rallied sharply, filled the gap, and moved further up toward the 17200 resistance. The index faced resistance there and started a down move which lasted till the end. Prices have recorded its intraday low at 17045.30 in the morning, intraday high at 17205.40 in the afternoon, and finally closed at 17076.90 near its day’s lows with a loss of 75 points or 0.44% down. FMCG, PHARMA, and METAL outperformed today and closed with a gain. REALTY, BANK, IT, and FINANCIAL underperformed today and closed with a loss. AUTO ended almost on a flat note. It was a volatile day today in the NIFTY index where prices have seen a sharp intraday rally in the first half while a sharp decline in the second half and finally ended almost at its opening tick. The short-term trend is sideways now which was down before. We have mentioned a narrow trading range with support around 16850 and resistance around 17200. The index tried to break this range but failed to do so. This range remained intact and prices have been moving within this range for the past eight trading days. As far as the index is trading within this range, we should prefer trading only on an intraday basis.


The BANK NIFTY opened at 39836.15 with a gap down of 122 points. The index rebound quickly and started moving higher after the first 15 minutes of trading. Prices have filled the gap and moved further higher to cross above 40200 but then started moving downside. The decline was very sharp. Prices have recorded its intraday low at 39552.50, intraday high at 40201.60, and finally closed at 39580.15 with a loss of 378 points PSU BANK has underperformed, saw a sharp intraday decline, and closed lower by 1.74%. PVT BANK has also moved down and ended with a loss of 0.85% Within the index, in terms of points, BANDHAN BANK contributed the highest on the upside while HDFC BANK contributed the lowest. BANK NIFTY traded very volatile as the index has seen multiple sharp swings in both directions. In the first half, the index moved higher while in the second halt, moved lower. The support is visible around 38500 while resistance is visible around 40000. This trading range remained intact. Prices have tried to break it on the upside but failed to do so. It has been 9 trading days since prices have been closing within this range. The trend is sideways now which was down before. We should wait for a close beyond the 38500-40000 trading range.


ONGC 152.80 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 153.20 with a stop loss of 152.20 and a target of 154.75.
GRANULES 280.70 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 280.00 with a stop loss of 283.70 and a target of 272.50.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CIPLA  880 CE BUY 5.90 CMP 4 9.30 REVERSAL
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COROMANDEL.23.03 Mar 892.5 2.6 0.57 1600900 VEDL.23.03 Mar 270.25 -5.34 11.57 38908000
ABB.23.03 Mar 3352.05 1.48 1.17 1389250 HAL.23.03 Mar 2497 -5.22 72.02 5212800
MANAPPURAM.23.03 Mar 121.65 1.38 0.09 35010000 IDEA.23.03 Mar 6.4 -3.03 7.47 429030000
AUROPHARMA.23.03 Mar 486.05 1.32 0.78 12466000 BANKBARODA.23.03 Mar 162.35 -2.99 2.75 79893450
TATACOMM.23.03 Mar 1220.65 1.15 3.47 2025000 ABFRL.23.03 Mar 211 -2.92 4.99 21590400
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BALRAMCHIN.23.03 Mar 374.5 2.53 -5.44 4673600 IBULHSGFIN.23.03 Mar 97.15 -3.91 -0.55 44600000
BIOCON.23.03 Mar 207.3 1.52 -2.06 36896600 RBLBANK.23.03 Mar 140.15 -2.71 -2.15 33190000
HINDALCO.23.03 Mar 398.6 1.4 -3.3 24603600 INDIAMART.23.03 Mar 4935.75 -2.42 -5.67 324600
MARUTI.23.03 Mar 8341.75 1 -0.29 2111000 DELTACORP.23.03 Mar 189.25 -2.32 -0.35 14260400
CUMMINSIND.23.03 Mar 1630.15 0.86 -0.53 3038400 AUBANK.23.03 Mar 568 -2.15 -0.67 13045000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Marico Limited 479.35 -0.93 1277275 625649 80.99 Nifty50 17076.9 -0.44 100842
Pidilite Industries Ltd 2368.1 -0.38 271280 814774 79.36 Niftybank 39616.9 -0.96 100785
Srf Ltd. 2383.7 0.1 448631 811086 77.8 Nifty it 27999.25 -0.77 100785
Mahindra & Mahindra Fina 227.7 -1.19 3661062 9718923 77.37 India Vix 14.49 -2.16 102084
Infosys Limited 1374.55 -1.06 7607718 6236213 74.63 Nifty Fmcg 45267.45 0.35 100785
Dr. Reddys Lab Ltd 4446.95 -0.63 483674 237688 74.33 Nifty Pharma 11780.85 0.22 100785
Crompton Greaves Consume 291.4 -0.15 1576003 1398857 73.5 Nifty Realty 390.05 -1.08 100785
Hdfc Ltd. 2569.85 -0.56 2493899 1385158 67.91 Nifty Auto 12205.7 0.04 100785
Hindustan Unilever Ltd 2485.1 0.35 1578627 704215 66.23 Nifty Metal 5497.85 0.1 100785
Bharti Airtel Limited 763.55 0.91 2454948 1752529 65.38 Nifty Financial Services 17746.55 -0.65 100785


   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Feb) 31st March, 2023

INR: Infrastructure Output (YoY) (Feb) 31st March, 2023

 USD: Core Durable Goods Orders (MoM) (Feb) on 24th March, 2023

USD: CB Consumer Confidence (Mar) on 28th March, 2023


  • Benchmark indices ended on a negative note in the volatile session on March 23 with Nifty below 17,100. At close, the Sensex was down 289.31 points or 0.50% at 57,925.28, and the Nifty was down 75.00 points or 0.44% at 17,076.90. About 1428 shares advanced, 1983 shares declined, and 127 shares unchanged.

  • The Tata Group is contemplating injecting another $2 billion of fresh capital into its super app — Tata Neu — through the conglomerate’s digital arm, Tata Digital, reported Bloomberg, citing people familiar with the developments.

  • Toshiba Corp. accepted a buyout offer from a Japanese consortium, according to people familiar with the matter, as the iconic conglomerate moved a step closer to ending a troubled chapter in its more-than-140-year history.

  • From $11 million in 2014-15, Indians are spending over a billion dollars a month on foreign travel today, Despite an overall increase in travel costs, the easing of the Covid pandemic has led to a surge in demand for travel. Indians are on track to spend twice as much as this year they did over the whole of the 2021-22 financial year.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
DECOMIC General 24-Mar-23 CEINSYSTECH General 26-Mar-23
EMAMILTD Buy Back of Shares 24-Mar-23 CANOPYFIN General 27-Mar-23
GAMMONIND Quarterly Results 24-Mar-23 CIGNITI General 27-Mar-23
MANAPPURAM General 24-Mar-23 CONCORD General 27-Mar-23
OMEGAIN General 24-Mar-23 HDFC General 27-Mar-23
POWERGRID General 24-Mar-23 ISWL General 27-Mar-23
RAJTV General 24-Mar-23 JSTL General 27-Mar-23
RVNL Interim Dividend 24-Mar-23 MYSPAPE Quarterly Results 27-Mar-23
STDSFAC General 24-Mar-23 ORACLECR Right Issue of Equity Shares;Increase in Authorised Capital;General 27-Mar-23
SUNRETAIL Right Issue of Equity Shares;Increase in Authorised Capital 24-Mar-23 UNJHAFOR General 27-Mar-23
SVPHOUSING General 24-Mar-23 URSUGAR General 27-Mar-23
VENTURA General 24-Mar-23 7TEC General 28-Mar-23
VINTAGES General 24-Mar-23 ADITYA General 28-Mar-23
VIRPOLY General 24-Mar-23 ENCASH General 28-Mar-23
WARDINMOBI General 24-Mar-23 FLOMIC General 28-Mar-23
BHARATWIRE Preferential Issue of shares 25-Mar-23 GAL Issue Of Warrants;General;Preferential Issue of shares 28-Mar-23
ESARIND General 25-Mar-23 IFCI Preferential Issue of shares 28-Mar-23
INDOWIND General 25-Mar-23 MODULEX Quarterly Results 28-Mar-23
SEJAL Audited Results 25-Mar-23 NINSYS General 28-Mar-23
STERPOW General 25-Mar-23 RUSHIL General;Rights Issue 28-Mar-23
SURFUNC General 25-Mar-23 SAMOR General 28-Mar-23
USGTECH General 25-Mar-23 SCTL Preferential Issue of shares 28-Mar-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ABSLAMC 24-Mar-23 Interim Dividend – Rs. – 5.0000 DWARKESH 31-Mar-23 Interim Dividend – Rs. – 2.0000
AJANTPHARM 24-Mar-23 Buy Back of Shares GPIL 31-Mar-23 Buy Back of Shares
BEL 24-Mar-23 Interim Dividend – Rs. – 0.6000 IGL 31-Mar-23 Interim Dividend
GLS 24-Mar-23 Interim Dividend – Rs. – 21.0000 PFC 31-Mar-23 Interim Dividend
GROWINGTON 24-Mar-23 Bonus issue 24:100 SCI 31-Mar-23 Spin Off
MANGASOF 24-Mar-23 Resolution Plan -Suspension HCKKVENTURE 03-Apr-23 E.G.M.
SAIL 24-Mar-23 Interim Dividend – Rs. – 1.0000 MKVENTURES 03-Apr-23 Right Issue of Equity Shares
STYRENIX 24-Mar-23 Interim Dividend – Rs. – 80.0000 TEAMLEASE 03-Apr-23 Buy Back of Shares
SUNCLAYLTD 24-Mar-23 Scheme of Arrangement SKCIL 05-Apr-23 E.G.M.
VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/- RVNL 06-Apr-23 Interim Dividend
VKAL 24-Mar-23 E.G.M. SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
BCONCEPTS 29-Mar-23 Interim Dividend – Rs. – 0.5000 MUTHOOTFIN 18-Apr-23 Interim Dividend
BHARATAGRI 29-Mar-23 Stock  Split From Rs.10/- to Rs.1/- HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
HINDZINC 29-Mar-23 Interim Dividend – Rs. – 26.0000 JETINFRA 21-Apr-23 Bonus issue 1:1
MIRZAINT 29-Mar-23 Spin Off NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
SBICARD 29-Mar-23 Interim Dividend – Rs. – 2.5000 VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
SYMPHONY 29-Mar-23 Buy Back of Shares ABB 27-Apr-23 Dividend – Rs. – 5.5000
ANGELONE 31-Mar-23 Interim Dividend – Rs. – 9.6000 HCLTECH 28-Apr-23 Interim Dividend
AVANCE 31-Mar-23 Stock  Split From Rs.10/- to Rs.5/- KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000 SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000

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