F&O Ban List: Zee under trade ban on Monday. Hindustan Copper moves out
Zee Entertainment Enterprises (ZEEL) is only stock under the F&O trade ban on Monday while Hindustan Copper has moved out of the ban.
For Zee, the MWPL stood at 105.5% on Thursday with OI reported by Trendlyne at 132.9 million. It was up by 0.7% from the previous session.
Stock markets were closed on Friday, March 29, 2024, on account of the Good Friday.
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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 is reversed only if the open interest falls below 80%.
Traders who trade in indices do not encounter a situation of security ban.
Zee shares ended at Rs 138.75 on the NSE on Thursday and were down by Rs 2.60 or 1.84% over Wednesday’s closing price. It was its second successive loss in two sessions.
Its shares have fallen by over 35% in the past 12 months and this year the decline has been more pronounced on the back of the company's merger with Sony falling-off. In 2024 so far, the share has tanked by over 51%.
The stock has been very volatile and its 1-year beta has now shot up to 1.1, according to Trendlyne. The recent correction has also dragged the stock below its 50-day and 200-day simple moving averages (SMA).
Its momentum indicators RSI and MFI as reported by Trendlyne are in a medium range of 33.5 and 41. A number above 70 indicates that the stock is trading in an overbought zone while
