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NIFTY

* Markets started the week on an upbeat note and gained over half a percent.

* All key sectors contributed to the move wherein metal, realty and IT were among the top gainers.

* We maintain our positive view citing favor able global cues and suggest continuing with a “Buy on Dips” approach.

* Traders should align their positions accordingly, with focus on stock selection.

BANKNIFTY

* Banking index traded volatile after an initial uptick and closed the day with nearly half a percent gain.

* Mixed trend continued among private banking majors. HDFCBANK and ICICIBANK edged higher while KOTAKBANK and INDUSINDBK ended in red.

* The index faced rejection at higher level and failed to close above its trend line resistance.

* To continue its upward momentum, combined participation from the banking majors would play a crucial role.

* It would be prudent to maintain buy on dips approach as long as index trades above 50700 mark.

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