Stocks retained in F&O ban: Aarti Industries, Aditya Birla Fashion & Retail, Angel One, Bandhan Bank, Hindustan Copper, Kalyan Jewellers, L&T Finance, Manappuram Finance, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 extended its upward move and formed higher lows for three consecutive days, closing 0.4 percent higher on January 16. The index managed to close above the November low (23,263) and surpassed the 23,350 hurdle intraday. However, the overall sentiment remained in favour of the bears, as the index continued to trade well below all key moving averages. Therefore, the index is expected to consolidate, with immediate support at 23,150, followed by 23,050 (January low). In the event of a continuation of the uptrend, the key hurdle is at 23,500, as above this level, the 200-day EMA at 23,680 will be the level to watch, according to experts. The Nifty 50 formed a bearish candlestick pattern on the daily charts with above-average volumes, continuing the formation of higher highs for another session. However, the momentum indicators remain in negative territory, and the index is sustaining below all key moving averages, signaling an overall bearish phase for the market. Additionally, on the weekly charts, the index formed a bullish candlestick pattern with minor upper and long lower shadows, indicating buying interest at lower levels. Despite this, the index remains below the 50-week EMA and is trading near the lower end of the Bollinger Bands. The Bank Nifty maintained higher tops and higher bottoms for the third consecutive session, particularly since hitting a seven-month low on December 13. It formed a bullish candlestick pattern on the daily charts but remains in the lower band of the Bollinger Bands and below all key moving averages. The momentum indicator RSI (Relative Strength Index) at 39 showed a positive crossover but is still in the lower band, and the MACD (Moving Average Convergence Divergence) remains below the zero line, signaling a negative bias. On the weekly timeframe, the index formed a long bullish candlestick pattern but is still below the 50-week EMA of 49,930.
