Stocks retained in F&O ban: Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, L&T Finance, Punjab National Bank, RBL Bank, SAIL
Stocks removed from F&O ban: National Aluminium Company, Tata Chemicals
Market wrap up(DWM,T,N,E):The market failed to continue its previous day’s upward move on October 21, with the Nifty 50 declining 73 points to 24,781, accompanied by negative overall breadth. The index still traded below the 20- and 50-day EMAs (Exponential Moving Average), which is a negative sign. Sustaining above these EMAs could bring the bulls back into play, but until then, weakness and rangebound trading may continue. A decisive fall below 24,700 could drag the index down to 24,500, a crucial support level, while 25,000 is likely to be immediate resistance on the upside, according to experts. The Nifty 50 formed a bearish candlestick pattern on the daily charts, with the 10-day EMA falling below the 50-day EMA. Momentum indicators remained negative on both the daily and weekly timeframes. The index fell below the 20-week SMA (Simple Moving Average) at 24,700 for another week but managed to defend it on a closing basis. The Bank Nifty also formed a bearish candlestick pattern on the daily timeframe but sustained above all key moving averages. It reported a higher high-higher low formation and a positive crossover in the momentum indicator RSI (Relative Strength Index). The index moved closer to the crucial 52,300 level, which coincides with the 50 percent Fibonacci retracement (from the all-time high to the October low) as well as the 20-day SMA. Sustaining above this level will be crucial for a sharp upward rally. On the weekly scale, the index held above the 10-week EMA with higher highs and higher lows for another week, which is a positive sign. The index fell 132 points to close at 51,963.
