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Nifty

* Nifty resumed an uptrend after a normal breather and gained nearly a percent.

* Apart from the IT pack, energy and FCMG performed well while realty and auto were on the back foot.

* We need sustainability above the 24,500 mark to inch towards the new milestone of 25,000 mark.

* Apart from the domestic factors, participants should keep a close watch on the performance of the global indices, especially the US markets for cues.

BANKNIFTY

* Banking index failed to capitalize on early gains and ended almost unchanged.

* Mixed trend continued among the banking majors where AXISBANK and FEDERALBNK performed well whereas PSU banking majors remained under pressure.

* Banking index is consolidating in a range of 52800 and 52000 while holding above its short term moving average.

* Going ahead, breakout on either side of the range will provide further clarity.

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