Daily Derivative Report - 12th March 2026 by Religare Broking Ltd
Market Outlook
The Nifty index extended its downward trajectory, registering an intraday decline of 1.63% with strong rejection near the 24,300 level. From a derivatives perspective, fresh call writing was observed at the 24,200 and 24,300 strikes, indicating overhead resistance zone and suggesting the continued selling pressure at higher levels. On the downside, the 23,500 level appears to be the next key support and could be retested in the coming sessions, where the index may witness a temporary breather. Overall, market sentiment remains sideways to negative, and traders are advised to maintain a sell-on-rise approach for index positions.
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