The NIFTY opened at 17533.85 with a gap down of just 24 points. After the opening tick, the index started a consolidation process and eventually broke on the upside. The index recorded its intraday low at 17502.85, saw a sharp upside move, and went above 17600. Prices have recorded its intraday high at 17638.70 and saw a minor decline. The NIFTY then started a consolidation process that lasted till the end. Prices have finally closed at 17599.15 with a gain of 42.10 points or 0.24% up. The REALTY outperformed today and dosed with a gain of over 2% followed by AUTO, OIL GAS, PHARMA, and METAL FMCG and IT underperformed and ended with a loss. The short-term trend is up. The index closed higher for the fifth consecutive trading day and gained more than 600 points in those five trading days. After such a sharp move, we may see a brief consolidation or correction. Support is visible around 17200 and the resistance is visible around 17800. We should look for buying opportunities only as far as the index is moving above the 17200 support level. The first sign of a likely reversal will emerge when the index breaks below the last two days of low which is now recorded around 17402.


The BANK NIFTY opened at 40940.70 with a gap down of just 67 points. The index initially consolidated for the first 45 minutes of trading and then broke on the upside after recording its intraday low at 40820.55. Prices have seen a sharp up move and then again drifted downwards after recording its intraday high at 41274.70. Prices spent the rest of the day moving sideways and finally closed at 41033.25 with a gain of just 26 points. PSU BANK has outperformed today and closed higher by just 0.33% PVT BANK has underperformed and closed unchanged. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while ICICI BANK contributed the lowest. BANK NIFTY traded very volatile today and ended with gains for the sixth consecutive trading day. We have seen increased volatility in the morning due to the RBI policy meeting outcome. Support is now visible around the 40000 marks while resistance is visible around 41500. The short-term trend is up. We should look for buying only as long as the index is moving above the 40000 level.


AMBUJA CEM 383.60 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 386.60 with a stop loss of 379.60 and a target of 401.95.
TITAN 2548.45 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2544.65 with a stop loss of 2567 and a target of 2484.30.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY   1440 CE BUY 28.60 CMP 24 41 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CHOLAFIN.23.04 Apr 845.65 7.79 24.9 12528750 DABUR.23.04 Apr 527.15 -4.1 11.04 11277500
ABFRL.23.04 Apr 217.05 4.23 6.99 26501800 PAGEIND.23.04 Apr 36594.3 -2.53 6.7 127140
OBEROIRLTY.23.04 Apr 900.6 4.15 1.65 5989900 MIDCPNIFTY.23.04 Apr 6829.95 -2.32 0 75
CANFINHOME.23.04 Apr 569.15 4.15 9.46 3903900 BATAINDIA.23.04 Apr 1409.8 -1.96 2.75 2448325
BHEL.23.04 Apr 71.05 3.65 6.42 92011500 HCLTECH.23.04 Apr 1094.05 -1.81 0.27 9006200
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IEX.23.04 Apr 151.4 10.51 -1.25 39723750 VEDL.23.04 Apr 265.45 -5.4 -3.25 39236000
GODREJPROP.23.04 Apr 1130.85 6.65 -1.24 4449750 UBL.23.04 Apr 1411.3 -1.29 -3.62 1223600
M&MFIN.23.04 Apr 252.3 5.08 -1.13 25148000 HONAUT.23.04 Apr 36615.1 -1.28 -6.02 18045
ASTRAL.23.04 Apr 1405.1 4.97 -7.71 1823990 TATACOMM.23.04 Apr 1265.45 -1.11 -0.78 1979000
DLF.23.04 Apr 383.85 4.18 -2.45 40093350 TITAN.23.04 Apr 2554.05 -1.05 -5.89 4927875


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Crompton Greaves Consume 297.1 -0.97 981448 4459296 89.8 Nifty50 17599.15 0.24 29121068
Power Grid Corporation o 225.25 -0.18 3212157 7532162 83.56 Niftybank 41041 0.1 12472957
Whirlpool 1328.65 0.26 53243 113830 80.46 Nifty it 28764.55 -0.73 879328
Britannia Ind Ltd. 4299.8 -0.64 208718 307424 78.66 India Vix 11.8 -4.92 421859296
Jk Cement Limited 2920.75 -1.03 52013 439031 77.27 Nifty Fmcg 46109.15 -0.54 385633
Aditya Birla Fashion And 215.85 4.33 10496663 4363340 75.22 Nifty Pharma 12274.35 0.76 41796208
City Union Bank Ltd. 124.95 -0.04 3189122 4901196 74.6 Nifty Realty 404 2.84 1275931970
Grasim Ind Ltd. 1669.05 0.59 638863 1071479 74.51 Nifty Auto 12469.35 0.9 41162361
Ashok Leyland Ltd. 136.45 1.26 9954768 17880960 72.29 Nifty Metal 5528.1 0.58 92693162
Ntpc Limited 175.2 -0.4 7159274 7745529 71.52 Nifty Financial Services 18462.15 0.49 7866475


   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Mar)  on 12th April, 2023

INR: Industrial Production (YoY) (Feb) on 12th April, 2023

 USD: CPI (YoY) (Mar) on 12th April, 2023

USD: FOMC Meeting Minutes on 12th April, 2023


  • Indian benchmark indices ended on a positive note amid volatility with Nifty around 17,600. At close, the Sensex was up 143.66 points or 0.24% at 59,832.97, and the Nifty was up 42.20 points or 0.24% at 17,599.20. About 2310 shares advanced, 1121 shares declined, and 110 shares unchanged.

  • The maiden public issue of Avalon Technologies witnessed a tepid response from investors despite improved equity market conditions. The IPO garnered bids for 1.82 crore equity shares against an offer size of 1.14 crore shares subscribing 1.6 times on April 6, the final day of bidding.

  • Repo rate remains unchanged at 6.5%-Decision to pause rate hikes is for this meeting only 3 FY24 GDP growth estimate at 6.5%-Inflation has softened, but remains above tolerance level-Headline inflation expected to moderate in 2023-24.

  • According to the April 6 statement of the Monetary Policy Committee (MPC), Consumer Price Index (CPI) inflation is now seen averaging 5.2 percent in 2023-24, 10 basis points lower than the 5.3 percent projection made by the central bank in February.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
BANG General 10-Apr-23 TCS Final Dividend;Audited Results 12-Apr-23
EIDPARRY Interim Dividend 10-Apr-23 VENLONENT General 12-Apr-23
GAL General 10-Apr-23 VSSL Bonus issue 12-Apr-23
INDITALIA General;Quarterly Results 10-Apr-23 AVANTEL Final Dividend;Audited Results 13-Apr-23
MAGNUM General 10-Apr-23 INFY Final Dividend;Audited Results 13-Apr-23
MPL General 10-Apr-23 ROSELABS Audited Results 13-Apr-23
PRECAM General 10-Apr-23 UNITDCR General 13-Apr-23
SIPIND General 10-Apr-23 GALACTICO Quarterly Results 14-Apr-23
SUDIN Preferential Issue of shares 10-Apr-23 HDFCBANK Audited Results 15-Apr-23
DELTACORP Final Dividend;Audited Results 11-Apr-23 ANGELONE Quarterly Results;Audited Results 17-Apr-23
GISOLUTION Right Issue of Equity Shares 11-Apr-23 ICICIGI Final Dividend;Audited Results 18-Apr-23
JAIMATAG Audited Results 11-Apr-23 SCHAEFFLER Quarterly Results 18-Apr-23
MPSLTD General 11-Apr-23 TATACOFFEE Dividend;Audited Results 18-Apr-23
TIERRA Audited Results 11-Apr-23 VIVANTA Quarterly Results 18-Apr-23
UGROCAP Increase in Authorised Capital;Preferential Issue of shares 11-Apr-23 ISEC Final Dividend;Audited Results 19-Apr-23
ANANDRATHI Final Dividend;Audited Results 12-Apr-23 AMAL Audited Results 20-Apr-23
DHARSUGAR Quarterly Results 12-Apr-23 CYIENT Quarterly Results 20-Apr-23
NATIONSTD Quarterly Results 12-Apr-23 FAMILYCARE General;Bonus issue 20-Apr-23
NESTLEIND Interim Dividend 12-Apr-23 HCLTECH Interim Dividend;Audited Results 20-Apr-23
SEL Audited Results 12-Apr-23 ICICIPRULI Audited Results 20-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DEEPIND 10-Apr-23 Stock  Split From Rs.10/- to Rs.5/- CORNE 20-Apr-23 E.G.M.
EARUM 10-Apr-23 Right Issue of Equity Shares DREDGECORP 20-Apr-23 E.G.M.
SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000 FISCHER 20-Apr-23 E.G.M.
EMAMILTD 12-Apr-23 Buy Back of Shares HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
ESARIND 12-Apr-23 E.G.M. JETINFRA 21-Apr-23 Bonus issue 1:1
INFRATRUST 12-Apr-23 Income Distribution (InvIT) KAARYAFSL 21-Apr-23 E.G.M.
VBL 12-Apr-23 Final Dividend – Rs. – 1.0000 NESTLEIND 21-Apr-23 Interim Dividend
VISAKAIND 12-Apr-23 Interim Dividend – Rs. – 7.0000 NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
BRITANNIA 13-Apr-23 Interim Dividend – Rs. – 72.0000 TIPSINDLTD 21-Apr-23 Stock  Split From Rs.10/- to Rs.1/-
COMFINTE 13-Apr-23 Stock  Split From Rs.10/- to Rs.1/- ACHYUT 25-Apr-23 Bonus issue 1:2
EDELWEISS 13-Apr-23 Interim Dividend – Rs. – 0.2500 VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
GOODLUCK 13-Apr-23 Interim Dividend – Rs. – 2.0000 ABB 27-Apr-23 Dividend – Rs. – 5.5000
IZMO 13-Apr-23 E.G.M. HCLTECH 28-Apr-23 Interim Dividend
MUFIN 13-Apr-23 Stock  Split From Rs.2/- to Rs.1/- JOSTS 28-Apr-23 Stock  Split From Rs.5/- to Rs.2/-
FLOMIC 17-Apr-23 E.G.M. KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
DHAMPURSUG 18-Apr-23 Interim Dividend – Rs. – 5.0000 SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000
DHAMPURSUG 18-Apr-23 Special Dividend – Rs. – 1.0000 SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000
MUTHOOTFIN 18-Apr-23 Interim Dividend CASTROLIND 04-May-23 Final Dividend – Rs. – 3.5000

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