F&O Ban: Indiabulls Housing Finance stock under ban on Tuesday
Indiabulls Housing Finance stock is under the F&O ban for trade on Tuesday, July 4, 2023. The stock, however, 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 indices do not encounter a situation of security ban. The MWPL for Indiabulls Housing stood at 86.6% on Monday with OI reported by Trendlyne at 55.4 million.
It was down 6.9% from the previous session.Indiabulls shares ended at Rs 127.35 on Monday, up Rs 3.95 or 3.20% from the previous closing price. Indian headline indices S&P BSE Sensex and Nifty50 recorded their fresh all-time highs on Monday, starting from where they left last week. While the 30-stock Sensex closed at 65,205.05, up by 486.49 points or 0.75%, the broader Nifty50 finished at 19,322.55, higher by 133.50 points or 0.75%.
Banking gauge Nifty Bank also hit a lifetime high before settling at 45,158.10, up 410.75 points or nearly 1% over Friday's closing. «The first session of GIFT NIFTY (formerly known as SGX NIFTY) had a strong start on Monday, which influenced the Nifty benchmark index to open with a gap up for the third consecutive time. Overall, the market sentiment remained positive, with trading activity mostly staying within a certain range,» Rajesh Bhosale, Technical Analyst at Angel One said.
Bhosale is of the view that the ongoing upward trend is expected to persist in the near future, as indicated by significant breakouts on higher time frame charts. The Nifty has quickly surged by 650 points from last Monday's low, he said. He, however, warned investors of
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