Daily Derivative Report - 21st August 2026 by Religare Broking Ltd
Market Outlook
The Indian market witnessed a breather after declining for seven consecutive sessions, reclaimed strength and closed with the gains of 0.64%. Although Nifty 50 index crossed and managed to close above 50 & 100 DEMA but still facing immediate resistance at 20 DEMA. As far as the index manages to hold above 24,000 levels, some recovery attempts may emerge towards the 24,350-24,450 zone in the near term. Any decisive break below 24,000 could extend the decline towards the 23,900–23,800 zone in the upcoming sessions. From the derivatives perspective, significant Put writing remained concentrated at the 24,000 strike, providing an immediate downside cushion, while fresh Call writing was witnessed at the 24,500 strikes, which may cap the upside.
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