Daily Derivative Report - 24th March 2026 by Religare Broking Ltd
Market Outlook
The Indian benchmark indices start the week on a negative note, declined with more than two percent and extended their corrective tone for the fifth consecutive week. Derivatives data indicates fresh call writing at higher levels, particularly at the 23000 strike, along with the put unwinding, suggesting a firm near-term resistance zone. On the downside, significant put OI has placed at the 22000 level, and a decisive break below current levels may accelerate the prevailing downtrend toward this mark. Technically, the 22000 zone has aligned with the long-term 200-week EMA, which could act as a crucial support and may lead to a pause or a near-term relief bounce.
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