F&O Watch for April 8: Bandhan Bank enters the NSE ban list

Info Edge India: The standalone billings during the quarter ended March FY24 stood at Rs 826.9 crore, increasing 10.5 percent over Rs 748.6 crore recorded in the year-ago period, with recruitment business increasing 7.2 percent YoY to Rs 625.4 crore and 99 acres for the real estate segment rising 26.4 percent YoY to Rs 131.1 crore in Q4.

Bandhan Bank (98.66 percent), Zee Entertainment (96.29 percent), SAIL (94.51 percent) and Hindustan Copper (80.69 percent) have been placed on the ban list for the National Stock Exchange futures and options (F&O) trade on April 8.

These stocks are prohibited in the F&O sector because they have exceeded 95 percent of the market-wide position limit (MWPL). The ban is reversed only if the open interest falls below 80 percent.

Possible Entrants

India Cements (91.16 percent), PEL (89.13 percent), NALCO (86.42 percent), GNFC (83.95 percent), Vodafone Idea (82.10 percent) and Indus Towers (80.97 percent) may enter the ban list as these stocks are hovering near their 95 percent MWPL.

Technicals

- India Cements has declined 0.24 percent over the last month. The stock has been trading above its 20 DMA but below its 50 DMA and 200 DMA.

- PEL has fallen 4.52 percent over the last month. The stock has been trading above its 20 DMA but below its 50 DMA and 200 DMA.

- Nalco has gained 8.43 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

- GNFC has rallied 12.14 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

- Vodafone Idea has shed 6.32 percent over the last month. The stock has been trading below its 20 DMA and 50 DMA but above its 200 DMA.

- Indus Towers has zoomed 22.83 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

Possible Exits

Hindustan Copper may exit the ban list as its MWPL has come near 80 percent.

Technicals 

- Hindustan Copper has soared 15.18 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.