The Nifty 50 witnessed a range-bound trading session with the negative bias - Religare Broking Ltd
Market Outlook
The Nifty 50 witnessed a range-bound trading session with the negative bias. On the upside, every recovery toward the 25,800 level attracted profit booking, while on the downside, the 25,600 mark remained intact, reflecting the benchmark index’s resilience near its long-term moving average of 100-DEMA. In the derivatives segment, continued call writing was observed at the 25,800 and 26,000 strikes, highlighting a strong resistance zone. On the downside, no significant put writing was seen at any specific strike, indicating a lack of strong support. Consequently, the 25,600 mark remains a decisive make-or-break level, and a “sell on rise” strategy appears prudent for the near term.
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