Stocks retained in F&O ban: HFCL, RBL Bank, Sammaan Capital
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):Bears maintained their hold over the market for four consecutive days, dragging the Nifty 50 near the 25,000 zone. The index shed 113 points on September 24 and lost more than 400 points from its recent peak. Sentiment has definitely turned negative for the short term, with further weakness in momentum indicators. The next crucial support is placed at the 24,900 level (which coincides with the 50-day EMA, 10-week EMA, and the 50% Fibonacci retracement of the recent rally). A decisive fall below this could strengthen the bears, however, 25,150 is expected to be a resistance, according to experts. The Nifty 50 formed a bearish candle with both upper and lower shadows on the daily charts, indicating weakness and volatility. The index continued its lower high-lower low formation for four consecutive sessions, falling below the 10-day EMA and testing the 20-day EMA intraday. The RSI dropped to 52.17 with a negative crossover, while the MACD histogram suggests that momentum is gradually fading, and the MACD is inching downward toward a negative crossover. All these signals indicate weakness. The Bank Nifty erased its previous day’s gains and closed 388 points down with well-above-average volumes, forming a bearish candle with both upper and lower shadows on the daily timeframe, indicating weakness with some volatility. The index fell below both the 10-day and 50-day EMAs and came closer to the 20-day EMA (55,030). A close below this level could open the door for selling pressure. The RSI, at 51, is on the verge of a negative crossover, but the MACD has sustained its bullish crossover with the histogram still above the zero line. All these signals indicate negative sentiment in the short term.
