Stocks retained in F&O ban: Aditya Birla Fashion & Retail, Angel One, Bandhan Bank, Can Fin Homes, Kalyan Jewellers, L&T Finance, Manappuram Finance, RBL Bank
Stocks removed from F&O ban: Aarti Industries, Hindustan Copper
Market wrap up(DWM,T,N,E):The Nifty 50 remained rangebound, though it rebounded and recouped the previous day’s losses to end with a 0.6 percent gain on January 20, accompanied by above-average volumes. The daily charts indicated buying interest at lower levels, but volatility remained elevated, signaling caution for bulls. The Nifty 50 consistently faced resistance in the 23,350-23,400 zone. If the index manages to close and sustain above this zone, an upward journey towards 23,600 is possible in the upcoming sessions. However, as long as it trades below this zone, the consolidation may continue, with immediate support at 23,100, according to experts. The Nifty 50 formed a bullish candlestick pattern with a long lower shadow on the daily timeframe, indicating buying interest at lower levels. The index reached closer to the 10-day EMA but sustained below all key moving averages. The momentum indicator RSI (Relative Strength Index) at 41.3 showed a positive crossover but remained in the lower band, while the MACD (Moving Average Convergence Divergence) remained below the zero line. The Bank Nifty reported a bullish candlestick pattern on the daily timeframe with above-average volumes, closing above the 10-day EMA with a 1.67 percent gain. There was also a higher high-higher low formation. The momentum indicator RSI (42.6) showed a positive crossover but remained in the lower band, and the MACD also sustained below the zero line. Hence, consolidation may continue until the banking index gives a strong close above all key moving averages (20, 50, 100, and 200-day EMAs).
