Daily Derivative Report - 23rd October 2026 by Religare Broking Ltd
Market Outlook
Yesterday, selling pressure remained intact in the Indian market amid the rise in the volatility index. The benchmark Nifty50 index opened with a gap-down and extended its decline towards the 22,550 zone in the early opening sessions. With the intraday roller–coaster swings, the index settled with a decline of half a percent. On the derivatives front, continued call writing at the 22,800 and 23,000 strikes indicated immediate and strong overhead resistance levels, respectively. On the downside, fresh put writing at the 22,600 strike suggested an immediate support zone. However, a sustained breakdown below this level could trigger the put unwinding and initiate a fresh nosedive towards the 22,400 level and then 22,200 zones.
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