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NIFTY

* Nifty rebounded on Thursday amid choppy trading, ending with gains of over a percent, supported by improved global cues and buying in select heavyweights.

* The Nifty opened on a firm note and remained largely range-bound for most of the session; however, a sharp surge in the final hours helped the index retest the hurdle near the 24,800 level and eventually settle at 24,765.

* On the downside, the 24,500–24,200 range is expected to act as an immediate support zone.

* In the current environment of heightened volatility, we reiterate our cautious stance and advise participants to remain selective while maintaining disciplined risk management when initiating fresh positions.

BANKNIFTY

* The banking index paused its decline after three consecutive losing sessions, finding support at a key technical level and managing to close above its 100 DMA.

* After opening marginally positive, the index witnessed intraday weakness; however, strong buying in the final hour led to a positive close.

* Momentum remained mixed, with AU Small Finance Bank and Yes Bank showing strength, while ICICI Bank and Axis Bank underperformed.

* Immediate resistance is placed near 59,900, with key support around 57,900.

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