Stocks retained in F&O ban: Hindustan Copper, Manappuram Finance, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market snapped its two-day losing streak with the Nifty 50 rising 0.4% to close just above the 200-day EMA (Exponential Moving Average of 23,700) on January 7, partly due to short-covering and value buying. However, overall sentiment remains bearish, and the index may continue to consolidate until it moves above all key moving averages. In the near term, it may trade within the 23,500–24,000 range. If the index manages to sustain above 23,700, the immediate resistance is at 23,900–24,000. However, if it falls below this level, 23,500 is the key level to watch, as it coincides with an upward-sloping support trendline, experts said. The Nifty 50 has formed an Inside Bar candlestick pattern on the daily charts with above-average volumes, while defending the previous day’s low of 23,552. The index remained near the lower band of the Bollinger Bands, trading below the 10, 20, 50, and 100-day EMAs, though it closed just above the 200-day EMA. The momentum indicators, RSI (Relative Strength Index at 43), remain in the lower band, and MACD (Moving Average Convergence Divergence) remains below the zero line, indicating weakness. The Bank Nifty has also formed an Inside Bar candlestick pattern on the daily timeframe but remains below all key moving averages, including the 200-day EMA (of 50,490), signaling a negative trend. The index is positioned near the lower end of the Bollinger Bands, while the RSI (at 37.3) remains in the lower band and the MACD is below the zero line, further signaling weakness.
