Daily Derivative Report - 16th March 2026 by Religare Broking Ltd
Market Outlook
On the last Friday, the index continued its corrective tone, declining nearly 2 percent, resulting in the Nifty registering a weekly fall of more than 5 percent. From a technical perspective, the Nifty index faced rejection near the 24,000 mark, which was aligned with the long-term moving average of the 100-WEMA, making it a strong resistance level. On the derivatives front, fresh call writing was observed at every higher level, particularly at the 23,500 strike, indicating an immediate resistance zone. Sustained trading below this level may keep the bearish bias intact, potentially leading the index to retest the critical support level of 23,000. However, the index may witness some pause or consolidation near this zone, supported by significant put writing
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