Daily Derivative Report - 31st July, 2026 by Religare Broking Ltd
Market Outlook
The Indian market maintained a steady bullish momentum, with the benchmark Nifty 50 index extending its gains for the fifth consecutive session and settled above the 24,300 mark. On the derivatives front, fresh Put writing witnessed at the 24200 and 24300 strike, suggesting an immediate base formation. However on the upside, fresh Call writing was also observed at the 24,500 and 24,600 strikes, indicating an immediate overhead resistance zone that could cap the further upside in the near term. Overall, the prevailing price action reflects a sideway to positive bias for the near term, where buy the dip approach remain prudent to build any fresh long position.
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