F&O Ban: HAL, Hindustan Copper among 5 stocks under ban on Monday

Five stocks are under the ban for trade on Monday, June 26, 2023. These include Punjab National Bank (PNB), RBL Bank, L&T Finance Holdings (L&TFH), Hindustan Aeronautics (HAL) and Hindustan Copper. The banned stocks will be available for trading in the cash market. RBL is the latest to enter the ban.

The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Traders who trade in index do not encounter a situation of security ban.

The MWPL for PNB stood at 83.7% on Friday with OI reported by Trendlyne at 206.5 million. It was down 6.1% from the previous session.

MWPL of HAL stood at 97.3 % on Friday with OI reported by Trendlyne at 3.1 million. It was down 13.2% from the previous session.

MWPL of Hindustan Copper stood at 83.9 % on Friday with OI reported by Trendlyne at 23.1 million. It was down 9.1% from the previous session.

And for L&TFH, MWPL stood at 81.8 % on Friday.

MWPL of RBL stood at 95.8% on Friday with OI reported by Trendlyne at 36.9 million. It was down 10% from the previous session.


Indian frontline indices S&P BSE Sensex and Nifty50 ended Friday with declines. While the Sensex closed at 62,979.37, up by 259.52 points or 0.41%, the broader Nifty50 settled at 18,665.50, lower by 105.75 points or 0.56%. Nifty Bank finished at 43,622.90, down by 101.95 points or 0.23%.

"Prices ended slightly above the 20-EMA, which has previously acted as a strong barrier against any corrections. This level coincides with a trigger point of the ‘Bearish Double Top’ pattern observed on the hourly chart. In our opinion, for the bulls to regain control, the upward movement should start from the current levels. However, if the levels of 18,600-18,650 are breached, then we might witness further price correction toward the 18,500-18,450 levels. The bearish gap around 18,750 will now act as immediate resistance, followed by the all-time high level at 18,888." Rajesh Bhosale, Technical Analyst at Angel One said.

Traders should note that the higher time frame charts continue to look intriguing and suggest that any future price or time-wise correction should be seen as a buying opportunity for those who missed the upward trend in the past few months, Bhosale recommended.


(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)