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The Sensex and Nifty reached record highs on Monday, driven by expectations of increased foreign inflows following last week’s Federal Reserve rate cut, which has boosted risk-on sentiment among investors. Key gains came from the energy, banking, and auto sectors, while IT stocks underperformed. The Nifty now seems set to target 26,000, with momentum likely led by major banking stocks.
From a derivatives perspective, we are seeing significant activity at the 25,900 strike, with option writers active on both calls and puts. This suggests a sideways movement may occur in the latter part of the session. However, the overall bias remains bullish, and any price dips should be viewed as opportunities to establish new long positions.

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