F&O Ban List: Balrampur Chini, Hindustan Copper under trade ban on Tuesday
trade ban on Tuesday viz. Balrampur Chini and Hindustan Copper. 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 indexes do not encounter a security ban.
The MWPL for Balrampur Chini stood at 114.6% on Monday with OI reported by Trendlyne at 10.4 million. It was down 7.3% from the previous session.
Balrampur Chini shares are trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 482 and Rs 416. The stock has rallied 45% over the last 12 months. This is higher than Nifty's 1-year returns of 30%. The stock is currently trading in an overbought zone with RSI and MFI as reported by Trendlyne around 72 and 77.
A number above 70 is considered as overbought while below 30 is seen to be oversold.
Hindustan Copper reported MWPL at 104.2% on Monday with OI reported by Trendlyne at 40.8 million. It was down by 16.8% from the previous session.
Shares of Hindustan Copper are trading above their 50-day and 200-day SMAs of Rs 319 and Rs 293. The stock has rallied by 87% over the past 12 months and has outperformed Nifty which in-turn has delivered 30% returns in the same period.
However, the stock has been very volatile with a 1-year beta of 1.9 according to data fetched from Trendlyne.
By ending in the green for each of the last 13 trading sessions, Nifty has created a new record for the longest winning
