Daily Derivative Report 13th May 2026 by Religare Broking Ltd
Market Outlook
The benchmark indices witnessed a negative trading session for the second consecutive day this week, with the NIFTY 50 extending its decline by nearly 2% and settling at 23,379. From a technical perspective, the ongoing weakness may further drag the index towards the 23,150 gap-support zone, while on the upside; the 23,500 level is likely to act as an immediate hurdle. On the derivatives front, fresh call writing in the next weekly expiry was observed at the 23,500 strike, indicating near-term resistance, while the 24,000 continues to remain a firm hurdle. On the downside, significant put writing at the 23,000 strike suggests a cushion for the index in the near term.
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