Daily Derivative Report - 30th July, 2026 by Religare Broking Ltd
Market Outlook
The key benchmark index, Nifty50, commenced the August series on a firm note, opening with a gap-up and extending its rally towards the 24,300 zone. Although the index witnessed some profit taking during the final hour of trade but managed to hold above the 24200 zone with gains of more than one percent. From a technical perspective, Nifty has reclaimed its 100-DEMA, indicating an improvement in market sentiment and indicates a bullish outlook for the near term. On the derivatives front, significant short covering was observed at the 24,000 Call strike, accompanied by fresh Put writing at the 24,200 strike, suggesting that the immediate resistance has now shifted into an immediate support zone.
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