Stocks removed from F&O ban: Titagarh Rail Systems
Market wrap up(DWM,T,N,E):The Nifty 50 succumbed to selling pressure on August 26, falling 1 percent and breaking below short- and medium-term moving averages in a single session with significantly higher volumes. Hence, some more weakness amid volatility can’t be ruled out in the upcoming session, i.e., the monthly F&O expiry day. If the index decisively breaks the 100-day EMA (24,635) support, the selling could drag it down toward 24,500 (the 78.6% Fibonacci retracement of the recent rally). However, consistently defending this level could lead to some consolidation, followed by a short-covering rally toward the 24,900–25,000 zone, according to experts. The Nifty 50 formed a long bearish candle on the daily timeframe, falling below the 20- and 50-day EMAs as well as the midline of the Bollinger Bands, signalling weakness. The RSI dropped to 45.92 with a negative crossover, while the MACD maintained a bullish crossover, though it tilted slightly downward. The histogram remained above the zero line. This indicates potential caution, despite some underlying strength. The Bank Nifty has decisively broken its upward-sloping support trendline and formed a long red candle on the daily charts with above-average volumes, indicating a negative trend. With Tuesday’s fall, the banking index is now trading below the 20-, 50-, and 100-day EMAs. The RSI dropped to 33.43, moving closer to the oversold zone, while the MACD gave a bearish crossover, with the histogram falling below the zero line. This indicates a weakening momentum and possible continued pressure.
