Daily Derivative Report - 01st January 2025 by Religare Broking Ltd
Market Outlook
The Nifty 50 staged a strong recovery from the day’s low and closed with a gain of 0.74% at 26,129. On the upside, the 26,200 level witnessed selling pressure, indicating profit booking at higher levels. From a derivatives perspective, significant put writing was observed at the 26,000 strike, while short unwinding in Call OI suggests improving sentiment. In the Bank Nifty, Put OI build-up at the 59,500 level along with short covering at the 59,000 Call strike indicates a bullish bias for the upcoming session. A decisive breakout above the 26,200–26,250 zone in the Nifty could open the door for a move towards higher levels.
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