Daily Market Notes

Market View

Structural trend remains firmly bullish above 24,600. Price establishing a high-volume base at the psychological 24,800 level. Volatility expansion expected toward 25,100 if daily close sustains above yesterday's high. FII positioning net positive three sessions running.

Critical Observations

• Option chain shows heavy put writing at 24,700 strike — solid short-term floor.

• IT sector decoupling from NASDAQ weakness, showing independent strength.

• VIX India compressed to 12.4 — low-vol regime supports trend continuation.

Market View

Weekly expiry closed above max-pain at 24,700. Short-covering accelerated in last 90 minutes. Strong setup into next week's monthly F&O expiry.

Critical Observations

• Breadth positive — 34 of 50 constituents closed green.

• Volume 18% above 20-day average on close.

• USD/INR stable at 83.4; no FX headwind.

Market View

Mid-week consolidation between 24,520 and 24,680. Mean reversion strategy preferred over momentum. Avoid breakout entries until volume confirms.

Critical Observations

• Range-bound session; 13 of last 15 bars inside prior range.

• Advance-decline flat at 1:1.

Market View

Gap-up open on positive global cues. Held above 24,500 through session — bulls defended key level. Next resistance 24,700.

Critical Observations

• Asian markets green; Nikkei +1.2%, Hang Seng +0.9%.

• Crude held below $78 — positive for fuel importers.