Daily Derivative Report - 07th July, 2026 by Religare Broking Ltd
Market Outlook
The Indian benchmark indices started the week on a strong note, with the Nifty 50 index decisively breaks above the 200-DEMA, which reinforce the prevailing bullish sentiment. The positive momentum was largely driven by heavyweight stocks such as HDFC Bank, Reliance Industries, and ICICI Bank, which provided the major bullish momentum to the market. From a technical perspective, the bullish bias is expected to remain intact across most sectors, except the IT space. On the derivatives front, fresh put writing was observed at the 24,200 and 24,300 strikes with significant call unwinding, indicating strengthen bullish sentiments for the near term. However, some profit booking is expected to emerge near the 24,550–24,600 zone.
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