Halonol-S Ointment is a combination medicine for treating eczema and psoriasis, providing relief from redness, itching, and swelling while softening the skin. It should be used according to doctor's instructions, and should be used in moderation. Common side effects include thinning, dryness, burning, irritation, itchiness, and redness. Consult a doctor if symptoms persist or if pregnant or suffering from other conditions.