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Market Outlook

The Nifty 50 started the week on a volatile note, witnessing selling pressure in the early sessions that dragged the index down to an intraday low of 25,473. However, a recovery in the latter half, helped the index rebound and close in the green at 25,790. On the daily chart, the index continues to trade below its key 50-DEMA, indicating that upside pressure remains capped and the broader trend still cautious. In the derivatives segment, significant put writing at lower strikes along with short covering in call options reflects improving market sentiment. However, as long as the index remains below the crucial 26,000 mark, the upside may face resistance and profit booking could emerge at higher levels, keeping the index in a cautious zone.

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