Stocks retained in F&O ban: Bandhan Bank, Granules India, Hindustan Copper, Manappuram Finance, SAIL
Stocks removed from F&O ban: NMDC, PVR INOX
Market wrap up(DWM,T,N,E):The market has seen a downward trend throughout last week, falling 1.5 percent on December 20 and losing 4.8 percent for the week. Sentiment turned significantly bearish, with the Nifty 50 falling below the 200-day EMA (23,700) on a closing basis, accompanied by a negative bias in momentum indicators. Hence, if the index sustains below 23,700, the November low (23,263) cannot be ruled out in the upcoming sessions. However, in the event of a bounce-back, the first hurdle is expected to be at 23,900, followed by 24,065, which is seen as a key resistance zone, according to experts. The Nifty 50 formed a long bearish candlestick pattern on the daily charts, with above-average volumes. Following Friday’s fall, the index is now trading below all key moving averages, with the 200-day EMA being the last one broken on Friday. Furthermore, the index is trading below the lower band of the Bollinger Bands, while the momentum indicators—RSI (Relative Strength Index) at 34 and MACD (Moving Average Convergence Divergence) dropping below the zero line with a negative crossover—are all signaling weakness. The Bank Nifty also corrected throughout the week, forming a large bearish candlestick pattern on the daily timeframe with lower highs and lower lows for the fourth consecutive session. The banking index is also trading below the lower band of the Bollinger Bands and is 324 points away from the 200-day EMA (50,435), while it is already below the 10, 20, 50, and 100-day EMAs. The RSI has dropped to 35, and the MACD is near the zero line with a negative bias. All of these indicators point to weakness. The index fell 1.6 percent on Friday, with above-average volumes, and lost 5.3 percent for the week.
