Stocks retained in F&O ban: Bandhan Bank, RBL Bank
Stocks removed from F&O ban: Angel One, Hindustan Copper
Market wrap up(DWM,T,N,E):The Nifty 50 snapped its two-day losing streak and gained half a percent on July 21, making a positive start to the week. However, the index still traded below short-term moving averages (10-day and 20-day EMAs) with the continuation of the lower tops-lower bottoms formation. Until the Nifty reclaims and sustains above the 25,200-25,250 resistance zone, range-bound trading may continue, with support at 24,900. A break below this support could bring the index down to 24,700, but if it moves above the resistance zone, 25,400 will be the key level to watch, according to experts. The Nifty 50 formed a bullish candle with a lower shadow on the daily timeframe, indicating buying interest at support zones between 25,000-24,900. The traded volume was above average, suggesting that the bullish move has solid backing. The index defended the 50-day EMA, but still traded below the 20-day EMA. The MACD histogram showed some improvement, and the RSI at 47.63 inclined upward, although it still displayed a sustained bearish crossover. This indicates that while there is some upward momentum, the market sentiment remains cautious until a stronger move above the key resistance levels is confirmed. The Bank Nifty recouped all of its previous day’s losses and gained 1.2%, forming a bullish candle with a lower shadow on the daily charts, signaling buying interest at lower levels. The banking index climbed above the 20-day EMA and tested the midline of the Bollinger Bands intraday. The MACD histogram also showed improvement after a couple of days of weakness, while the RSI climbed above the 50-mark at 54.10 and sharply inclined upward. This suggests that the banking sector is showing signs of strength, with potential for further upside if the momentum is sustained.
