IGI Logo

Published on 04-03-2026 10:47 am

BANKNIFTY

* The banking index reacted adversely to global developments, opening with a sharp gap-down and maintaining sustained weakness throughout the week.

* The index signaled early technical deterioration by closing below its 50-day DEMA for the first time in a month, though the 100-day DEMA continues to offer near-term support.

* Broad-based selling pressure was observed across banking stocks, led by PNB and Yes Bank.

* Immediate resistance stands near 59,000, while key support is positioned around 60,800.

Click Here :- https://tinyurl.com/3arhbwru

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 04-03-2026 10:46 am

NIFTY

* Nifty witnessed sharp selling pressure on Monday and lost over a percent amid weak global cues and rising geopolitical tensions.

* However, a recovery in the final hour helped trim some of the losses and the index eventually settled at 24,865.70.

* From a technical perspective, the sharp decline has pushed the Nifty closer to its swing low around the 24,600 level, and a decisive break below this could extend the correction towards the 24,400 mark.

* Given the heightened volatility and global uncertainty, we reiterate our advice to maintain a cautious stance, keep position sizes light and focus on disciplined risk management.

Click Here :- https://tinyurl.com/3arhbwru

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 04-03-2026 10:45 am

Comments:

Nifty weekly contract has the highest open interest at 26000 CE and 24000 PE while monthly contracts have the highest open interest at 26000 CE and 25000 PE. The highest OI addition was seen at 25000 CE and 24000 PE in weekly and at 25000 CE and 24000 PE in monthly contracts. FIIs decreased their future index long holdings by 3.61%, increased future index shorts by 11.70% and in index options, 47.01% decrease in Call longs, 12.94% decrease in Call short, 45.17% decrease in Put longs and 20.45% decrease in Put shorts

Click Here :- https://tinyurl.com/4uk7fyxw

Please refer disclaimer at www.geojit.comSEBI Registration number is INH200000345

Published on 04-03-2026 10:20 am

Market Outlook

Nifty witnessed a significant gap-down opening, tracking weakness in global markets amid escalating geopolitical tensions. The index retested its recent February low near the 24,600 mark before staging a mild relief rally and eventually settling at 24,865. On the technical front, the index has decisively broken below its 200-DEMA, which is now expected to act as an immediate resistance zone for the near term. From a derivatives perspective, the upcoming weekly expiry data shows fresh call writing at the 25,000 strike, positioning it as a near-term hurdle. As Nifty failed to reclaim this level, further fresh call writing will intensified and it may once again retest the 24,600–24,500 support zone

Click Here :- https://tinyurl.com/32227476

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 04-03-2026 10:19 am

Nifty

Last week’s decisive close below the 200 DEMA on Friday session tilted the near-term bias to mildly bearish. This technical setup indicated a retest of the 25040 - 24900 demand zone, an area where meaningful buying interest had previously emerged and helped stabilize price escalation. It had spent majority of its last week with its daily RSI struggling to reclaim its crucial 50 mark, highlighting subdued momentum and lack of strong buying conviction. Nifty commenced the week by reacting towards the geopolitical escalations as it breached the 25000 psychological support with a gap and revisited 24500 broadening pattern support zone. On its daily scale its RSI has already declined towards 35 zone but ADX has also breached above its 25 level, which is an alarming sign indicating further weakness. Options data too indicates 25000 now acting a key pivot to gauge any reversal in strength while any slippages towards 24500 would trigger fresh unwinding pressure for a decline towards 24000. Significant call writing at 25500 underscores solid resistance, while put build-up near 24000 is fresh advance towards a range shift. Overall, the outlook remains cautious to mildly negative unless 25400 is not convincingly reclaimed. For traders a long–short trading approach remains prudent, as the index is likely to stay range-bound between 24000 and 25500 with 25000 being the key pivotal. Buying near support and selling near resistance within this band could remain the preferred strategy for short-term traders.

Click Here :- https://tinyurl.com/5n6pzhym

Please refer disclaimer at https://www.tradebulls.in/disclaimerSEBI Registration number is INZ000171838