Stocks retained in F&O ban: Hindustan Copper, RBL Bank
Stocks removed from F&O ban: Nil
Market wrap up(DWM,T,N,E):The Nifty 50 decisively broke the 25,400 level, which had been consistently defended in the previous six sessions, and closed with a 121-point loss on July 10, the weekly F&O expiry day. The formation of a long red candle, along with negative crossovers in momentum indicators and a weakening MACD histogram, signalled a further downtrend despite the VIX reaching a more than 14-month low. If the index breaks the crucial support zone of 25,300–25,200, the 25,000 level is the one to watch on the downside. However, on the higher side, 25,500 is expected to act as resistance, according to experts. The Nifty 50 has seen a consolidation breakdown and formed a long bearish candle on the daily charts, although the volume was lower than the previous day. The index dropped below the 10-day EMA but managed to defend the rising support trendline (which previously acted as a resistance trendline) on a closing basis. It still holds the 20-day EMA (25,285) and 20-day SMA (25,244). However, the RSI (at 55.82), Stochastic RSI, and MACD all showed negative crossovers, with further weakness in the histogram, signalling a negative trend. The Bank Nifty also reported a long bearish candle on the daily timeframe, following a Doji formation in the previous session. The index has broken below the 10-day EMA but still holds above the 20-day EMA (56,728) and the previous week’s low (56,623). The RSI, at 56.32, is below the 60 mark, and both the Stochastic RSI and MACD recorded negative crossovers, with bearish momentum in the histogram—signalling that bears may be gaining strength.
