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Nifty

* NIFTY extended its rebound, gaining over 1% amid positive global cues.

* All sectors contributed to the recovery, with IT, real estate, and energy emerging as the top gainers.

* Outlook: Breaking above 24500 could lead to a further rise toward 24,800.

* Traders should consider aligning their positions accordingly and focus on index majors to trade further.

Bank Nifty

* Banknifty traded flat throughout the day, gaining nearly 20 basis points.

* Almost all PSUs counters led the gains in the index while the private banking space being subdued.

* Previously, after giving a breakout over 100EMA and rising channel, a consolidation/ pause is seen for the day.

* Banknifty has formed a small hanging man and still managed to close with a positive bias.

* Traders are recommended to prepare for consolidation and a fresh breakout can be seen above 52500.

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