Stocks retained in F&O ban: PNB Housing Finance, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 staged a stellar rally on August 11, rising 222 points and recouping almost all of the previous day’s losses. This marked a strong start to the week, and a bullish trend reversal formation appeared to be taking shape. However, it still requires follow-through and sustainable buying in upcoming sessions, particularly by taking support at 24,330. If the index extends gains up to 24,650 (the immediate hurdle) and marches toward the crucial resistance zone of 24,800–24,850 — and sustains there — a major upmove cannot be ruled out. However, failure to do so could lead to continued consolidation, with support at 24,330, followed by 24,200 (the 200-day EMA), according to experts. he Nifty 50 formed a long bullish candle on the daily charts, resembling a Tweezer Bottom (a trend reversal pattern), as well as a Double Bottom on the hourly charts. However, both patterns require strong and sustained follow-through buying for confirmation. The index closed just below the 100-day EMA (24,591) after remaining within the previous day’s range. The RSI stood at 41.92, and the Stochastic RSI showed a positive crossover. Meanwhile, histogram weakness faded, but the MACD remained below the zero line. This indicates early signs of a potential reversal, but confirmation is still awaited. The Bank Nifty also formed a bullish candle, almost entirely within the previous day’s red candle, while consistently holding above the 100-day EMA on a closing basis for another session. The RSI, at 41.96, is on the verge of a positive crossover, and the Stochastic RSI maintained a bullish crossover, though still in the oversold zone. Histogram weakness reduced slightly, but the MACD stayed below the zero line. This indicates an improving structure, but it needs follow-through to strengthen bullish sentiment.
