The NSE has added Escorts Kubota, and Sun TV Network to its F&O ban list for August 28, while retaining BHEL, GMR Airports Infrastructure, Hindustan Copper, India Cements, Manappuram Finance, and RBL Bank in the list. However, Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Indiabulls Housing Finance, Metropolis Healthcare, and Punjab National Bank were removed from the said list.
Market wrap up(DWM,T,N,E):The market after negative opening remained volatile throughout session and closed six-tenth of a percent lower on August 25, continuing downtrend for second consecutive session. The Nifty has managed to take a support at around 19,230-19,250 area on closing basis, which also coincides with previous month’s low and also formed Inverted Hammer kind of pattern on the weekly charts, which is a bullish reversal pattern. Hence, if there is any bounce back, the immediate resistance would be 19,400-19,500 levels which coincides with 21-day EMA (19,445), but the breaking of the above support can drag the index up to 19,100-19,000 levels, the crucial support, in coming sessions, The BSE Sensex declined 366 points to 64,887, while the Nifty50 fell 121 points to 19,266 and formed small bearish candlestick pattern with minor upper & lower shadows on the daily scale, negating higher highs formation of previous four sessions. “The sentiment is expected to stay bearish as long as the index remains below 19,450, where the 21-day exponential moving average (EMA) is positioned on the daily timeframe,” We have also seen selling pressure in the broader markets with negative breadth in the ratio of around 1:2. The Nifty Midcap 100 and Smallcap 100 indices fell 0.8 percent and 0.4 percent respectively, while the India VIX, the fear index, climbed above 12 levels, rising by 3.26 percent.
