Stocks retained in F&O ban: Bandhan Bank, Chambal Fertilisers and Chemicals, Granules India, Hindustan Copper, Manappuram Finance, National Aluminium Company, PVR INOX, RBL Bank, SAIL
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):Bears maintained their control over Dalal Street, dragging the benchmark Nifty down for the third consecutive session on December 18. The index declined by more than half a percent, falling below all key moving averages as well as the midline of the Bollinger bands, signaling weakness. The weekly PCR (Put-Call Ratio) reached 0.55, its lowest-ever level, indicating oversold conditions. On the levels front, if the index holds 24,150, a rally towards 24,500 can’t be ruled out. However, if it falls below that level, the 24,000-23,900 zone is the one to watch. The Nifty 50 formed a bearish candlestick pattern with an upper shadow on the daily charts, indicating selling pressure at higher levels. The index maintained a lower high-lower low formation for the second consecutive session, while the momentum indicator RSI (Relative Strength Index at 45.18) reported a negative crossover. On the weekly scale, the index formed a long bearish candlestick pattern, falling 2.3 percent so far and remaining below the midline of the Bollinger bands. The Bank Nifty also maintained a lower tops-lower bottoms formation for another session, forming a long bearish candlestick pattern on the daily timeframe. The index dropped below the 10, 20, and 50-day EMAs, as well as the midline of the Bollinger bands, with negative crossovers in the momentum indicators RSI and MACD (Moving Average Convergence Divergence), which is a negative sign. The index was down 1.32 percent on Wednesday and 2.7 percent for the week.
