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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 index do not encounter a situation of security ban.
The stock has been a market laggard and witnessed a price erosion of nearly 40% over the last 12 months even as Nifty50 has given over 8% returns during this period. It is currently trading below its 200-day simple moving average (SMA) while above its 50-day SMA.
The volatility has been low as it has traded with a 1-year beta of 0.3.
On Friday, the Delta Corp shares ended 2.19% amid high volumes with 3.67 crore shares changing hands on the NSE which took the counter in an overbought zone. The day’s MFI on Friday stood at 76 according to Trendlyne data.
The NSE Nifty 50 index was up 2.39% to close the week at 20,267.90 and the S&P BSE Sensex was up 2.29% and settled the week at 67,481.19. India’s Nifty 50 hit a fresh record high on Friday, it gained 130 points to create a fresh all-time high at 20,291.55, as faster-than-expected economic growth in the September quarter added to optimism over the global interest rate outlook,” Arvinder Singh Nanda, Senior Vice President, Master Capital Services said.Nanda said that as long as the index holds 20,000, marching towards 20,500 looks likely in the coming days despite intermittent consolidation. For this analyst psychological mark remains at 19,800 for the 50-stock index while the hurdle is placed at 20,350-20,400, where 20,000 will act as an immediate support.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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