Daily Derivative Report - 12th May 2026 by Religare Broking Ltd
Market Outlook
The NIFTY 50 continued to remain under selling pressure amid the weaker global cues, declining nearly one and half percent and settled close to its critical support zone. From a technical perspective, a decisive break down below the current support level could extend the decline towards the 23,500 mark. However, if the index manages to hold this zone, the 24,000 level is likely to act as an immediate hurdle, as fresh call writing has emerged around this strike. Overall, market sentiment continues to reflect a cautious undertone, and the index is expected to trade with a sideways to negative bias in the upcoming sessions due to rise in the crude oil prices.
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