IGI Logo

Market Outlook

The Indian Markets witnessed a significant sell-off amid the renewed geopolitical tensions between the U.S. and Iran. The key benchmark indices register notable intraday decline. The Nifty 50 opened with a significant gap-down and attempted a recovery towards the 24,300 zone in the early session. However, selling pressure intensified thereafter, dragging the index lower throughout the day to settle with a loss of more than 2%. On the derivatives front, fresh call writing was observed at the 24,000 strike, highlighting it as an immediate resistance level. Meanwhile, on the downside 23,500 strike holds the highest Put OI, which is expected to provide a firm downside cushion in the near term.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ00017433