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NIFTY

* NIFTY continued its downward trend, losing nearly half a percent as part of the ongoing correction.

* Most key sectors were under pressure, mirroring the benchmark performance, with auto and IT stocks among the top losers.

* We maintain a negative outlook on the index, with the next critical support level at 24,700.

* On stock front, opportunities are emerging on both sides, so traders should adjust their positions accordingly.

BANKNIFTY

* Banknifty over weak cues opened with a lower gap, tested the previous day's highs at initial, and settled at days low, witnessing profit booking throughout the day.

* Banknifty took support over it's 50 EMA and traded around its 38.2% Fibonacci retracement of its primary trend.

* Indecisive follow-ons either side suggest consolidation & below 51750 Sentiment can turn negative

* Traders are recommended to have a close watch at 51750 as support and immediate resistance at 52300.

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