The Nifty 50 recovered sharply from the day’s low and closed with a loss of 0.86 percent on April 13, following the breakdown of peace talks on Sunday. The near-term technical setup remains healthy, as the index continues to hold above short-term moving averages, supported by a bullish crossover in momentum indicators. Hopes have increased that US-Iran peace talks could resume, despite the US blockade of Iranian ports. If the index bounces back, the 24,000–24,100 zone is expected to act as a crucial hurdle for an upmove towards 24,200–24,300. On the downside, support is placed at 23,500, according to experts.
The Nifty Put-Call ratio (PCR) was unchanged at 1.13 on April 13. The India VIX surged 8.75 percent to the 20.5 level, signalling some discomfort for bulls. A decisive fall below the 16 zone is necessary for bulls to regain confidence. A long build-up was seen in 24 stocks, while 85 stocks saw a decline in open interest, indicating long unwinding.
Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit. Stocks retained in F&O ban include SAIL and Sammaan Capital.
