F&O Ban: HAL, Tata Chemicals among 8 stocks under ban on Monday

Eight stocks are under the F&O ban for trade on Tuesday, June 20, 2023 viz. Indiabulls Housing Finance Company, The India Cements, Manappuram Finance, Delta Corp, Zee Entertainment Enterprises (ZEEL), Tata Chemicals and L&T Finance Holdings (L&TFH). Indiabulls has been under the ban since June 6. Bharat Heavy Electricals (BHEL) which was under the ban last week has come out of it.

The banned stocks will be available for trading in the cash market.

The F&O 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 Indiabulls Housing stood at 83.1% with OI reported by Trendlyne at 48.9 million. It was down 0.7% from the previous session.

Meanwhile, the MWPL for The India Cements stood at 83.9% with OI reported by Trendlyne at 16.6 million. It was down 2.7% from the previous session.

The MWPL of ZEEL stood at 82% with OI reported by Trendlyne at 85.2 million. It was down 1.5% from the previous session.

MWPL of Delta Corp stood at 86.4% with OI reported by Trendlyne at 16.5 million. It was down 2.7% from the previous session.

MWPL of HAL stood at 99.9% with OI reported by Trendlyne at 4.5 million. It was up 9.5% from the previous session.

MWPL of Tata Chemicals stood at 82.9% with OI reported by Trendlyne at 8.7 million. It was down 2.7% from the previous session.

And for L&TFH, MWPL stood at 105.6% with OI reported by Trendlyne at 1.3 million. It was down 89.5% from the previous session

"Our markets started positively on Monday, giving the impression of potential new highs during the initial few minutes. However, traders preferred to book some profit at record levels that led to a decline. We are seeing a bearish formation known as ‘Dark Cloud Cover’ on the daily chart, and the said formation around the record high does not augur well for the bulls. In fact, a correction in terms of time or price would be healthy for the overall uptrend," Rajesh Bhosale, Technical Analyst at Angel One said.

"However, we continue to remain upbeat and will not be surprised to see today’s move as a whipsaw or deception as we witnessed on Thursday’s session. Key levels to watch are 18,600 - 18,550 as a sacrosanct zone, with 18,700 serving as an immediate support. On the upside, 18,900 - 19,000 poses an immediate hurdle," Bhosale said.

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