Ban period
DerivativesAlso called: F&O ban
The state a stock enters when derivatives open interest crosses 95% of its market wide position limit, during which only position-reducing trades are permitted.
In plain terms
The 8:40 local at Dadar with the guard on the door — people can still get off, nobody can board. It lifts only below 80% utilisation, so a rally on falling open interest in a banned name is shorts leaving, not the market forming a view.