F&O Ban List: India Cements and Indus Towers under trade ban on Wednesday

Two stocks are under an F&O trade ban on Wednesday viz. India Cements and Indus Towers. 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 situation of security ban.

MWPL for India Cements stood at 115.7% on Tuesday with OI reported by Trendlyne at 18.1 million. It was down by 1.9% from the previous session.

Shares of India Cements are trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 222 and Rs 231 according to data revealed by Trendlyne. It has also been a very volatile stock with 1-year beta reported by Trendlyne at 1.5.

The stock has rallied over 34% in the past 12 months. Momentum indicators RSI and MFI also show the stock in an overbought zone with RSI and MFI hovering near the 73 and 92 marks as reported by Trendlyne.

The MWPL for Indus Towers stood at 80.2% on Thursday with OI reported by Trendlyne at 89.3 million. It was down by 5.4% from the previous session.

It is likely to get out of the ban today.

Indus Towers stock has been a multibagger returning 134% over a 1-year period. It is trading above its 50-day and 200-day SMAs of 346% and 250%, respectively. While its RSI is in a medium range of 67, its MFI is in an oversold territory.

Indian headline indices ended Tuesday with minor declines amid selling pressure across sectors including banks, auto and FMCG. The 30-stock S&P BSE Sensex ended the day at 79,441.45, dropping 34.74 points or 0.04% while the broader Nifty closed at 24,123.85, settling 18.10 points or 0.07% lower.

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