F&O Ban: GNFC, Indiabulls Housing Finance under ban for trade on Monday

According to data available on NSE, two stocks are under the F&O ban on Monday, 20 March 2023. The securities which are under the ban are Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) and Indiabulls Housing Finance. They were under the ban in the previous week, as well.

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 is reversed only if the open interest falls below 80%.

Traders who trade in indices do not encounter a situation of security ban.

According to data available on Trendlyne, the MWPL of GNFC stood at 80.9% as on 17 March with the open interest at 7.6 million. The OI day change was at negative 1.3%.

The MWPL of Indiabulls Housing stood at 93.1% on Friday with OI reported by Trendlyne at 46.2 million. It was down 0.6% from the previous session.

Meanwhile, in the cash market, the stocks will be available for purchase.

On Friday, the GNFC shares ended at Rs 525.10 on the NSE, up Rs 1.75 or 0.33% taking positive cues from the broader markets and frontline indices Nifty50 and S&P BSE Sensex. As for Indiabulls Housing Finance, the stock ended at Rs 101.40, up Rs 1.30 or 1.30%.

“Nifty witnessed a volatile day of trade on Friday, Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas said. “It witnessed sharp swings in both directions and ultimately closed in the green for the second consecutive day. On the way up the 40-hour moving average and the hourly upper Bollinger band placed in the range 17150 – 17200 acted as a strong resistance and restricted further upside and on the way down the swing low formed at 16850 shall act as a crucial support from short term perspective,” he said.

“We expect the Nifty to consolidate between these two parameters from the next few trading sessions. we believe that the pullback rally has some more steam left and the nifty is likely to carry on this positive momentum next week as well,” the Sharekhan analyst said.

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