Stocks retained in F&O ban: RBL Bank, Titagarh Rail Systems
Stocks removed from F&O ban: PG Electroplast
Market wrap up(DWM,T,N,E):The Nifty 50 extended its upward journey for the fourth consecutive session, rising 0.4 percent on August 19, though it traded within the previous day’s range. The index remained above key moving averages, and the momentum indicators showed a bullish crossover. According to experts, after the recent rally, the index might consolidate; however, the overall trend remains positive. It needs to surpass and sustain above the 25,000 zone, which is a crucial level for a further sharp rally toward 25,250. On the downside, 24,850 (Monday’s low) is expected to act as a support zone in the near term. The Nifty 50 formed a bullish candle with an upper shadow beside the previous day’s red candle on the daily timeframe, indicating rangebound action. The index stayed above all key moving averages, with the 10-day and 20-day EMAs inclining upward. The 50-day EMA is on the verge of turning upward, which is considered positive. The RSI climbed to 55.12 with a bullish crossover, and the histogram gained more strength, with the MACD maintaining a positive crossover, though still below the zero line. This indicates bullish undertone amid consolidation. The Bank Nifty finally closed above the 20-day and 50-day EMAs as well as the midline of the Bollinger Bands in a single session, with the 10-day EMA inclining upward. The index formed a bullish candle on the daily charts, indicating a positive trend. The MACD gave a bullish crossover with the histogram gaining strength, and the RSI jumped to 49.55 with a positive crossover. This indicates renewed bullish momentum in the banking space.
