Daily Derivative Report - 29th July, 2026 by Religare Broking Ltd
Market Outlook
On the monthly expiry of the July series, the Indian market witnessed a lacklustre session. The benchmark Nifty50 index remained under pressure throughout the day, as it failed to surpass the 20-DEMA and eventually settled marginally lower. As long as the index trades below the 24,100 zone, the negative sentiment is likely to persist, with the possibility of extending the decline towards the 23,800 level in the near term. The derivative data of the August series witnessed fresh Call writing at the 24,100 and 24,200 strikes, indicating an immediate overhead resistance zone. On the downside, the 23,800 strike holds significant Put OI, providing an immediate downside cushion
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