F&O Watch for April 24: Aditya Birla Fashion and Retail, LIC Housing Finance may enter NSE ban list

April 24, 2024 / 06:10 AM IST

Adroit Infotech: The software company has entered into a non-binding share purchase agreement with a US-based ERP solutions company. This 100 percent acquisition of the US company will allow Adroit to sell other ERP solutions (Oracle) along with SAP solutions.

Hindustan Copper (90.26 percent), Zee Entertainment (86.38 percent) and Vodafone Idea (81.87 percent) entered the list of stocks banned for futures and options (F&O) trade on the  National Stock Exchange for April 24.

These stocks are prohibited from F&O trade for the day because they 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

Aditya Birla Fashion and Retail (92.38 percent), LIC Housing Finance (92.36 percent), Canara Bank (88.61 percent), Nalco (86.72 percent), Oracle Financial Services Software (85.79 percent), Tata Chemicals (85.50 percent), Indus Towers (83.18 percent), India Cements (81.54 percent) and Bandhan Bank (80.65 percent) may enter the ban list as these stocks are hovering near the 95 percent MWPL.

Technicals

- Aditya Birla Fashion and Retail has rallied 27.05 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

- LIC Housing Finance has jumped 12.91 percent over the last month. The stock has been trading above its 20 DMA and 50 DMA but below its 200 DMA.

- Canara Bank has gained 5.02 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

- Nalco has zoomed 20.47 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

- OFSS has plunged 16.37 percent over the last month. The stock has been trading below its 20 DMA and 50 DMA but above its 200 DMA.

- Tata Chemicals has gained 2.45 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

- Indus Towers has rallied 27.13 percent over the last month. The stock has been trading above its 20 DMA , 50 DMA and 200 DMA.

- India Cements has jumped 7.2 percent over the last month. The stock has been trading above its 20 DMA but below its 50 DMA and 200 DMA.

- Bandhan Bank has gained 0.5 percent over the last month. The stock has been trading below its 20 DMA, 50 DMA and 200 DMA.

Possible Exits

Vodafone Idea (81.87 percent) may exit the ban list as its MWPL has come near 80 percent.

Technicals

- Vodafone Idea has advanced 8.27 percent over the last month. The stock has been trading above its 20 DMA, 50 DMA and 200 DMA.

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