Daily Derivative Report - 4th August 2026 by Religare Broking Ltd
Market Outlook
The Indian market started the week on a positive note, with the benchmark Nifty50 opening on a gap-up and maintained the gains throughout the session to close above the immediate resistance level of 24,600. The overall technical setup continues to remain bullish, indicating that the prevailing uptrend is likely to extend towards the 25,000 mark in the coming sessions. Additionally, the derivative data also supports the positive outlook, with fresh put writing witnessed at the 24,500 and 24,600 strikes, suggesting these levels are likely to act as immediate support. On the upside, significant call OI remain aligned with the 25,000 strike, which could emerge as a near-term resistance and may trigger profit booking if the index approaches this level.
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