Daily Derivative Report - 16th April 2026 by Religare Broking Ltd
Market Outlook
The Indian benchmark indices witnessed a strong gap-up opening, with the Nifty index surpassing the 24,000 mark and inches higher towards the 24,200-24300 zone. From a technical perspective, the index has reclaimed its key 50-DEMA, indicating an improvement in market sentiment despite the ongoing geopolitical uncertainties. On the derivatives front, fresh put writing was observed at the 24,000 strike, suggesting an immediate support area. While on the upside, significant call OI has positioned at the 24,500 strike, marking a key resistance level. A decisive breakout above this level could pave the way for a potential move towards the 25,000 zone.
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