Stocks retained in F&O ban: PG Electroplast, RBL Bank, Titagarh Rail Systems
Stocks removed from F&O ban: PNB Housing Finance
Market wrap up(DWM,T,N,E):The Nifty 50 staged a strong performance on August 18, rising 1 percent following buzz around GST reforms. The index witnessed a robust gap-up opening and is now trading above all key moving averages, with a bullish crossover in momentum indicators. As long as the index defends the bullish gap between 24,670–24,850, an upward move toward 25,000, followed by 25,250 (a crucial level for negating the lower highs–lower lows structure), cannot be ruled out. On the flip side, the 24,700–24,600 zone is expected to act as a strong support area, while the August low of 24,337 is likely to serve as a near-term bottom, according to experts. The Nifty 50 formed a bearish candle with a long upper shadow on the daily charts after the strong gap-up opening, indicating a potential reversal pattern. Despite this, the index climbed above the 20-day and 50-day EMAs, as well as the midline of the Bollinger Bands. The MACD showed a positive crossover below the zero line, with the histogram turning positive. The RSI jumped to 52.28, accompanied by a healthy bullish crossover. These developments indicate building bullish momentum, despite the bearish candle formation. The Bank Nifty displayed a similar pattern after a gap-up opening but failed to sustain above the 20-day and 50-day EMAs and the midline of the Bollinger Bands on a closing basis. The index, however, has seen a strong consolidation breakout. The RSI rose to 47.74, showing a bullish crossover. The MACD edged higher but remains below the zero line with a bearish crossover, although the weakness in the histogram has consistently been fading. These signals suggest that while momentum remains tentative, underlying weakness is gradually easing.
