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Market Outlook

The Indian benchmark indices opened on a positive note, with the Nifty 50 starting the session around the 24,200 mark. However, the index failed to sustain at higher levels, as profit booking emerged early in the session, dragging it back toward the 24,000 zone. In the second half, sentiment improved following news of a possible de-escalation in tensions between the US and Iran, which supported a recovery in the market. Consequently, the Nifty inched higher towards the 24300-24350 range by the close. From a derivatives perspective, significant put writing was observed at the 24,200 and 24,000 strikes, indicating an immediate support zone. On the upside, major call OI at the 24,500 strike suggests a critica

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