Immediate resistance stands at 56,300, with support positioned near 54,000 - Religare Broking Ltd
NIFTY
* Nifty traded on a subdued note on Wednesday and ended almost unchanged amid mixed cues.
* After a flat start, the Nifty oscillated within a narrow range for most of the session and eventually settled largely flat near the 23,907 mark.
* Sectoral participation remained mixed, with energy, metals, and auto stocks performing well, while financials and private banking counters traded under pressure.
* While the consolidation phase in the index may continue, we reiterate maintaining a stock-specific approach based on prevailing sectoral trends, while keeping a close check on overnight risk exposure.
BANK NIFTY
* The banking index declined for the second consecutive session, facing strong resistance near the 50 DEMA.
* Although the index opened positively, momentum weakened throughout the session, resulting in a negative close.
* The momentum remained mixed, with Punjab National Bank and Canara Bank leading gains, while weakness seen in HDFC Bank and AU Small Finance Bank.
* Immediate resistance stands at 56,300, with support positioned near 54,000.
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