Banking Index Rebounds, Finds Support Near 20-Day DEMA - Religare Broking Ltd
Nifty
* Nifty traded on a subdued note and ended almost unchanged amid mixed cues.
* The index is likely to first test the 24,800–25,000 zone, and a sustained move above this region could pave the way for an extension towards the 25,200 mark.
* On the downside, the 24,350–24,500 region is expected to provide a strong cushion against any near-term profit-taking.
* With sectoral rotation and healthy broader market participation continuing to support the underlying trend, we maintain our "buy-on-dips" approach and recommend focusing on relatively stronger stocks across sectors while adhering to disciplined risk management.
BANK NIFTY
* The Banking Index rebounded after two consecutive sessions of decline, finding strong support near the 20-day DEMA.
* The index opened with a bullish gap and sustained buying interest throughout the session, reflecting improved market sentiment.
* Sectoral participation remained mixed, with Union Bank and AU Small Finance Bank outperforming, while Kotak Mahindra Bank and Federal Bank underperformed.
* Immediate resistance is placed at 58,800, with 57,300 acting as key support.
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