Stocks retained in F&O ban: IndiaMART InterMESH, Manappuram Finance, Mahanagar Gas, Punjab National Bank
Stocks removed from F&O ban: Aditya Birla Fashion & Retail, Bandhan Bank, Can Fin Homes, Dixon Technologies, L&T Finance
Market wrap up(DWM,T,N,E):The Nifty 50 fell decisively below 23,000 (for the first time since June 2024), breaking the strong support seen in the past two weeks, as well as experiencing a trendline breakdown on January 27. This shift signaled a strengthening of the bears, especially with the market approaching the Budget event. Additionally, the subdued market breadth and rising VIX further weakened sentiment. As long as the index remains below 23,000, the bears may stay active, potentially driving the index down to the 22,500 zone. However, in the event of a bounce back, the 22,900-23,000 range is expected to serve as immediate resistance, followed by 23,200, according to experts. The Nifty 50 formed a bearish candlestick pattern on the daily charts and has consistently traded well below all key moving averages (10, 20, 50, 100, and 200-day EMAs), signaling weakness. Momentum indicators also show a negative bias, with the RSI (Relative Strength Index) at 33.77, in the lower band, and the MACD (Moving Average Convergence Divergence) positioned well below the zero line. The Bank Nifty has also broken its support trendline, falling by 0.6 percent with above-average volumes. The index formed a bullish candlestick pattern with a long upper shadow on the daily timeframe, indicating a lack of buying interest at higher levels. Overall, the trend remains in favour of the bears as the index has remained well below all key moving averages, with negative momentum indicators.
