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NIFTY

* Nifty edged higher on Friday, extending the ongoing uptrend and ending the session with modest gains.

* After a flat start, the Nifty gradually moved up during the first half, followed by a range-bound phase until the close.

* On the sectoral front, most indices contributed to the up move, with energy and pharma emerging as the top gainers.

* Moreover, positive developments around potential trade agreements could further strengthen the bullish bias.

* We continue to recommend a “buy on dips” strategy on the index, with an emphasis on selective stock picking for better opportunities.

BANK NIFTY

* Bank Nifty is showing strong bullish trend, underpinned by a decisive breakout from its recent consolidation phase.

* The index achieved another milestone touching fresh all-time high of 57.475.40, but trading at resistance line of the rising now.

* The movement was mixed amongst banking majors as Indusindbk, Icicibank closed higher, while Axisbank and Aubank lost momentum.

* Going forward, the positive tone is likely to continue and hence one can maintain ‘buy on dips’ approach in the index

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