Daily Derivative Report 4th May 2026 by Religare Broking Ltd
Market Outlook
The Nifty50 index witnessed a breather sessions amid the prevailing cautious undertone of the Indian market, settled the week with modest gains of nearly half percent. The upside remained limited as banking index continued to trade under pressure, restricting broader market momentum. On the derivatives front, fresh call writing was observed at the 24,000 and 24,200 strikes, indicating an immediate resistance zone. As long as the index trades below this range, the bearish bias is likely to persist. On the downside, 23,800 zone acting as a crucial support level. A breakdown below this mark could weaken market sentiment further, opening the door for a decline towards 23,500 and 23,100 levels in the near term.
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