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NIFTY

* NIFTY edged higher on monthly expiry day and gained nearly 1%, driven by favorable cues.

* All major sectors contributed to the rally, with auto, metal, and FMCG leading the charge.

? Current indicators suggest this upward trend will continue, with Nifty likely to approach the 26,500 mark.

* We continue to favor rate-sensitive sectors such as banking, auto, realty, and financials, and recommend selectively picking stocks from the metal and energy sectors as well.

BANKNIFTY

* Banking index regained momentum and surged higher to close with half a percent gain.

* Almost all the banking majors participated in the move wherein SBIN, PNB and INDUSINDBK contributed the maximum.

* The index almost tested 54500 mark on expected lines. Since it has resumed its ascent after three days of consolidation we believe the bullish trend to continue.

* Traders should capitalize on dips for a near term target of 55000 in the index.

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