F&O Ban List: Zee under trade ban on Wednesday
Zee Entertainment Enterprises is under the F&O trade ban on Wednesday. For Zee, MWPL stood at 92.3% on Tuesday with OI reported by Trendlyne at 122.6 million. It was down 1.2% from the previous session.
The stock had entered the ban on Saturday as stock exchanges BSE and NSE had decided to keep the market open despite the weekend holiday as part of its strategy to assess the system's preparation in the event of an unanticipated tragedy.
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 indices do not encounter a situation of security ban.
Zee shares ended at Rs 155.20 on the NSE on Tuesday, up Rs 0.30 or 0.19%. The stock traded amid significant volumes with more than 1.26 crore shares changing hands on the NSE at the closing time. The total traded value of the shares stood at Rs 196.94 in the cash market.
Zee has been in the news since the termination of its deal with Sony. Its 1-year losses have now jumped to nearly 20%.
The recent correction has pulled the counter below its 50-day and 200-day simple moving averages (SMAs). Momentum indicators RSI and MFI on Tuesday stood at 36 and 30 as reported by Trendlyne. A number above 70 indicates that a stock is trading in an overbought zone while below 30 suggests that it is trading in an oversold zone.
Indian benchmark indices ended Tuesday in the red, breaking their
