Daily Derivative Report - 08th April 2026 by Religare Broking Ltd
Market Outlook
The Indian benchmark indices extended their gains for the second consecutive session, with the Nifty index decisively settled above the 23,000 mark. From a technical standpoint, the next crucial hurdle is placed around the 23,500 zone, which coincides with the short-term 20-DEMA. A sustained move beyond this zone could further improve near-term sentiment and open the door for additional upside. On the derivatives front, fresh call writing at 23,500 and put writing at 22,500 suggest a likely consolidation range in the near term, with 23,000 emerging as a key contention zone. The next directional move is driven by a decisive breakout on the either side on this range.
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