Daily Derivative Report - 28th April 2026 by Religare Broking Ltd
Market Outlook
The Nifty index began the week on a positive note, reclaiming its short-term 20-DEMA, supported by strong recovery in heavyweight stocks such as Reliance and HDFC Bank. However, the 24200-24300 zones remain a crucial hurdle, and a sustained move above this range is necessary to re-establish a firm bullish bias. On the derivatives front, notable put writing is observed at the 24000 strike, indicating immediate support, while significant call writing at the 24500 strike suggests a strong resistance zone. This positioning points to a likely range-bound movement on the monthly expiry day, until there is any decisive breakout occurs on either side of this range.
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