Stocks retained in F&O ban: Bandhan Bank, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The market failed to see follow-through buying on July 22 due to profit booking at higher levels. The Nifty 50 shed 30 points with above-average volumes after a day of rally. Technical indicators suggest the possibility of continued consolidation until the index clearly negates the lower highs–lower lows formation. According to experts, if the index reclaims and sustains above the 25,250–25,350 zone, buying interest may push it toward 25,550. However, until then, consolidation is likely to continue, with 25,000 acting as psychological support. A breach below this level could open the door to 24,900. The Nifty 50 formed a bearish candle on the daily charts after almost testing the 20-day EMA (25,183), indicating weakness and ongoing consolidation. The index has continued to gyrate within the lower and midline of the Bollinger Bands for the last eight sessions, staying below short-term moving averages. The RSI has remained below the 50 zone at 46.65, with a bearish crossover, and the Stochastic RSI has remained sideways for more than a week now. The MACD histogram showed some further improvement. This indicates continued consolidation and a lack of clear directional strength in the near term. The Bank Nifty declined 0.35 percent, forming a long bearish candle on the daily timeframe. It failed to sustain above the midline of the Bollinger Bands, the 20-day EMA, and the upward-sloping support trendline, all signaling consolidation. The MACD histogram continued to show improvement, and the Stochastic RSI displayed a positive crossover, offering a short-term optimistic signal. However, the RSI at 51.48 maintained a negative crossover. This suggests the Bank Nifty may also remain in a consolidation phase unless it breaks decisively above key resistance levels.
