Stocks retained in F&O ban: PG Electroplast, RBL Bank,
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 erased recent days’ gains and reversed to near Monday’s low, losing 214 points on August 22 and over 290 points from the weekly high. Despite the formation of a long red candle, the index defended all short- and medium-term moving averages, as well as the midline of the Bollinger Bands. Hence, if the index rebounds, the 25,000 level is the one to watch, followed by 25,150 as a crucial hurdle. However, immediate support is placed at 24,850 (Friday’s low), as a break below this level may lead bears into the bullish gap area of August 18, according to experts. The Nifty 50 formed a big bearish candle on the daily charts, signaling a negative trend, but the trading volume was lower compared to the previous session. Moreover, the index remained above all key moving averages and the midline of the Bollinger Bands, which is a positive sign. While the bullishness in the histogram faded slightly, the MACD still maintained a bullish crossover and moved closer to the zero line. The RSI bent down and fell to 50.59 but remained in the upper band with a positive crossover. This indicates that the broader trend remains intact, though momentum has weakened a bit. The Bank Nifty also formed a long red candle and traded below the 10-, 20-, and 50-day EMAs, as well as the midline of the Bollinger Bands on the daily timeframe—indicating nervousness. The banking index is approaching the 100-day EMA (55,000) and the August low (54,900). A decisive fall below these levels could further strengthen the bears. The RSI dropped to 40.52 with a negative crossover, while the histogram’s bullish bias faded slightly. However, the MACD still shows a positive crossover, albeit below the zero line. This indicates caution, with a slight bullish undertone yet diminishing momentum.
