Stocks added to F&O ban: Dixon Technologies, Mahanagar Gas
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: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 nosedived sharply and erased all its previous day’s gains, correcting by 1.4 percent on January 21 and forming a long Bearish Engulfing candlestick pattern on the daily charts, testing the downward-sloping support trendline intraday, indicating weakness. The index has broken its 23,400-23,050 range on the lower side and closed at 23,025. Hence, if the index fails to defend the 23,000 level in the upcoming sessions on a closing basis, the selling pressure may extend towards 22,800, the immediate support, followed by 22,600 as the next support. However, on the higher side, 23,200-23,300 is the hurdle zone, according to experts. The Nifty 50 formed a long bearish candle, engulfing the narrow-range movement of the last six sessions on the downside, with above-average volumes, indicating that bears hold strong control over the market. The momentum indicators—RSI (Relative Strength Index at 35.37)—remained in the lower band, and MACD (Moving Average Convergence Divergence) stayed below the zero line. The index traded near the lower band of Bollinger Bands and well below all key moving averages, indicating a negative trend. The Bank Nifty also formed a bearish engulfing-like candlestick pattern on the daily timeframe, sustaining below all key moving averages, indicating weakness. However, it took support at the upward-sloping support trendline adjoining the lows of January 13 and 17, which is a bit positive. The momentum indicators remained in the negative terrain.
