Daily Derivative Report - 29th April 2026 by Religare Broking Ltd
Market Outlook
The Nifty index witnessed a negative session on the monthly expiry day, facing rejection near the 24,200 zone, which aligned with the key 50-DEMA. The index eventually settled below the 24,000 mark, indicating persistent selling pressure at higher levels. On the derivatives front, the upcoming weekly expiry data of the May series saw fresh call writing at the 24,200 and 24,500 strikes, suggesting a strong and immediate resistance zone. On the downside, notable put writing was observed at the 23,600 and 23,500 strikes, indicating a near-term support. Overall, the Nifty index appears to be trading in a sideways range with a cautious undertone. A sustained failure to reclaim the 24,200 level could keep the index under pressure and lead to further downside in the near term.
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