Stocks retained in F&O ban: Hindustan Copper, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 extended its southward journey for the third consecutive session and decisively broke the midline of the Bollinger Bands (which generally acts as a support), as well as the previous week’s low, falling 0.8 percent after a gap-down opening on July 11. Given the bearish bias in momentum indicators and the weak technical structure, the index is likely to fall toward the 25,000 mark, the next support zone. A further decline toward 24,900–24,800 cannot be ruled out. However, if it manages to defend Friday’s low, 25,300 will be the immediate resistance to watch, followed by 25,500, according to experts. The Nifty 50 formed a bearish candle on the daily charts and a long red candle on the weekly timeframe. The index traded below short-term moving averages (10- and 20-day EMAs), signaling a negative trend. The MACD sustained a negative crossover with a further weakening histogram, while the RSI dropped below the 50 mark to 48.75, with a negative crossover. The Stochastic RSI entered the oversold zone with a negative crossover. This suggests that momentum has weakened, although a rebound amid consolidation cannot be ruled out. The Bank Nifty reported a bearish candle with a long upper shadow and a small lower shadow on the daily timeframe, signaling pressure at higher levels, though some buying emerged at lower levels. The index defended the 20-day EMA and the midline of the Bollinger Bands on a closing basis. It also held the previous week’s low of the 56,600 zone. The MACD maintained a negative crossover with further weakness in the histogram, while the RSI at 53.27 also indicated weakness. The Stochastic RSI entered the oversold zone. Hence, consolidation and range-bound trading seem likely.
