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NIFTY

* After six consecutive days of decline, the markets rebounded, gaining nearly 1%.

* Most sectors contributed to the rise, with auto, energy, and pharma leading the gains.

* Nifty faces an immediate resistance zone around 25,150-25,300

* Traders should consider using this recovery to lighten positions and remain selective for long trades.

* We continue to favour IT and pharma stocks for their resilience and recommend careful stock selection in other sectors.

BANKNIFTY

* Banknifty opened on a upside gap denoting some relief from its oversold zones to close over a percent positive

* Almost all the banking stocks managed to close positive with heavyweight i.e. Hdfcbank contributing the most combined with PSU’s seen with bounce

* Banknifty forming small inside bar of its previous big bearish candle, managed to regain 100EMA i.e. 51050

* Traders are recommended to wait for clear picture, below 100EMA fresh liquidation shall be seen on the flip side if above 100 EMA, can witness some consolidation or slight follow-up

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