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Nifty

* Nifty started the week on a buoyant note and gained over a percent.

* Most sectors traded in sync with the move. Auto, banking and realty ended on strong footing.

* Recommend waiting for some stability citing recent swings in the index.

* Meanwhile, stay stock specific and limit leveraged positions.

Bank Nifty

* Banking index also recovered strongly and gained over one and a half percent.

* Rebound in HDFC Bank combined with buying in ICICI Bank, Kotak Bank and Axis Bank aided a positive close.

* Need a decisive breakout above 43500 to extend the recovery.

* Reiterate our preference for private banking names and staying selective in PSU pack.

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