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Market Outlook

The Nifty 50 settled at 24,967, marking a positive session. The India VIX remained neutral at 11.75, reflecting sideways sentiments in the market. On the derivatives front, significant OI build-up at the 24,900 and 24,800 Put strikes for the monthly expiry reaffirms it as an immediate support zone, while the 25,200–25,300 zone continues to act as a key resistance. Overall, the index maintains a sideways to positive bias heading into the monthly expiry. However, on the daily chart, a fresh bullish sentiment is likely to emerge only if Nifty decisively breaks out above the 25,100 mark and sustains this level.

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