F&O Ban: Indiabulls Housing, Delta Corp under ban for trade on Thursday

Two stocks are under a ban for trade on Thursday, May 25 viz. Indiabulls Housing Finance Company and Delta Corp. The banned stocks will be available for trading in the cash market.

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.

The MWPL for Indiabulls Housing stood at 81.1% on Wednesday with OI reported by Trendlyne at 15.6 million. It was down 13.9% from the previous session.

IB Housing Finance shares settled at Rs 112.20 on NSE on Wednesday, up Re 0.60 or 0.54%.

According to data available on Trendlyne, the MWPL for Delta Corp stood at 92.8% on Wednesday with OI reported by Trendlyne at 4.2 million. It was down 24% from the previous session.

Delta Corp shares ended at Rs 234.15 on Wednesday, down Rs 1.70 or 0.72%.

Indian markets ended on Wednesday in the red, ending their three-session winning streak. While the S&P BSE Sensex ended at 61,773.78, down by 208.01 points or 0.34%, the broader Nifty50 settled at 18,285.40, lower by 62.60 points or 0.34%. In the 50-stock Nifty 50, 30 stocks advanced. Banking gauge Nifty Bank was down by 43,677.85 points or 0.63% and closed at 43,677.85.

Similar to recent sessions, trading activity during the mid-session remained lackluster on Wednesday, with prices trading within a range. As European markets commenced their trading activity, we once again slipped lower, eventually ending the day with a loss of 0.34% a tad below 18,300, Rajesh Bhosale, Technical Analyst at Angel One said.

It appears that the market is awaiting a catalyst, and once it arrives, we might witness a surge in momentum, potentially during the monthly expiry session, Bhosle said.

"Looking ahead, the range of 18,200 – 18,400 is considered crucial, and if the lower end is breached, prices could retreat toward key support levels at 18,100 – 18,050. On the upside, a breakthrough beyond 18,400 may lead to further gains, potentially reaching and surpassing 18,500 in future sessions," the Angel One analyst said.

Traders are advised to monitor these levels closely and adjust their trades accordingly, he added.

He was of the view that the real action lies within the midcap segment, and traders should focus on such opportunities.

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