Daily Derivative Report - 03rd July, 2026 by Religare Broking Ltd
Market Outlook
The key benchmark Nifty50 index extended its positive momentum for the second consecutive session of the July series, gaining 0.71% to close at 24,175. The index also closed above the 100-DEMA zone, reinforcing the prevailing positive bias in the ongoing consolidation phase. However, the 24,200-24,250 zone continues to act as an immediate challenge for the index, and a decisive breakout above this range could pave the way for a move towards the 24,500-24,600 zone. On the derivatives front, aggressive put writing at the 24,000 strike indicates a strong base formation, highlighting sustained buying interest and providing an immediate downside cushion.
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