Daily Derivative Report - 29th September 2026 by Religare Broking Ltd
Market Outlook
The Indian market started the week on a weaker note, as persistent selling pressure dragged key benchmarks lower. The Nifty 50 opened marginally down and extended its losses throughout the day with a decisive breakdown below the psychological 23,000 mark to settle 1.56% lower at 22,780. The Banking index mirrored this weakness, tumbling nearly 2% intraday. On the derivatives front, aggressive call writing at the 22,900 and 23,000 strikes, coupled with significant put unwinding at 23,000, indicates that former support has now shifted into an immediate resistance zone. Overall market sentiment remains fragile, favoring a "sell on rise" strategy near key resistance levels.
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