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Market Outlook

The Nifty index witnessed a lacklustre session, trading within a narrow range of nearly 100 points after the volatility of the initial five minutes. On the daily chart, the index appears to be pausing in the prevailing trend, accompanied by a continued cool down in the volatility index. On the derivatives front, fresh put writing was observed at the 25,700 strike, indicating an immediate support zone, while call writing at the 25,800 strike highlights an overhead resistance. A decisive breakout from this range is likely to determine the next directional move, with a potential extension towards the 26,000 mark on the upside, whereas a breach on the downside could drag the index towards the 25,500 level.

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