Daily Derivative Report - 28th July, 2026 by Religare Broking Ltd
Market Outlook
The benchmark Nifty50 index started the week on a positive note, extending its recovery towards the 24,000 mark, amid the supportive global cues. From a technical perspective, the short term moving averages of 20-DEMA and 50-DEMA aligned with the 24,100 zone, making it a immediate resistance area. A decisive breakout above this zone could strengthen the ongoing recovery and pave the way for an up move towards the 24,500 mark. However, if the index fails to surpass this hurdle, the prevailing bearish momentum is likely to remain intact, which may negate the current recovery and drag the index back towards the 23600-23500 support zone in the near term.
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