Daily Derivative Report - 7th August 2026 by Religare Broking Ltd
Market Outlook
The key Indian benchmark indices witnessed a lacklustre trading session, with the Nifty 50 index extending its consolidation phase and closing on a flat note. From a technical perspective, the index continues to trade above the crucial 200-DEMA, keeping the broader positive bias intact and maintaining the possibility of a move towards the 25,000 mark in the near term. On the derivative front, fresh put writing intensified at the 24,500 strike, indicating immediate base formation and downside support. Meanwhile, significant call OI at the 24,700 and 25,000 strikes suggests immediate and major resistance levels, respectively, which may cap further upside in the short term.
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