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NIFTY

* Markets edged higher on the monthly expiry day, gaining nearly half a percent despite mixed cues.

* Sectoral trends remained mixed, with energy and realty emerging as top performers, while auto and pharma ended in the red.

* The shift in FII stance, coupled with strength in banking and financial majors and rotational support from other heavyweights, is sustaining the positive sentiment.

* Traders should look past the short-term choppiness during this consolidation phase and focus on selective stock opportunities.

BANK NIFTY

* The banking staged a swift recovery after a weak start and closed with a gain of over half a percent on monthly expiry day.

* PSU bank stocks outperformed the private banking majors wherein Bankbaroda, Pnb, Canbk gained the maximum.

* The index defended its key support levels to reverse yesterday's decline and regain momentum.

* Going ahead, it need to surpass the immediate resistance around 51900-52000 decisively for the continuation of uptrend. On the downside, support lies at 51000-50750 levels.

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