Daily Derivative Report - 20th May 2026 by Religare Broking Ltd
Market Outlook
The Indian benchmark indices witnessed a lacklustre session, even as the Nifty50 index started the day on a positive note and maintained a bullish bias during the first half. However, profit booking emerged near the 23,800 mark in the second half, dragging the index lower and leading it to settle on a subdued note. On the derivatives front, monthly expiry data witnessed fresh call writing at the 23,700 and 24,000 strikes, indicating immediate as well as strong upside hurdles. Meanwhile, significant put writing was observed at the 23,500 strike, suggesting a downside cushion for the index. For the near term, sustained trading below the 23,700 zone may keep the pressure intact and could lead the index to retest the 23,500 mark.
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