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Nifty

* Nifty began the first trading session of the New Year on a subdued note and ended almost unchanged.

* After a positive start, the Nifty moved within a narrow range throughout the session amid mixed moves among heavyweight stocks, eventually closing around the 26,141 mark.

* A decisive breakout above the 26,200 level could pave the way for a move towards the 26,500–26,700 zone in the near term.

* Traders are advised to maintain a positive bias and adopt a buy-on-dips strategy, with preference for banking, auto and metal stocks, while continuing to focus on disciplined risk management.

BankNifty

* The banking index extended its upward trajectory for a third consecutive session, culminating in a bullish breakout that reinforces a positive overall market sentiment.

* The index opened strong and remained range-bound throughout the session with a sustained positive bias.

* Stock-specific momentum was mixed, with IndusInd Bank and Bank of Baroda outperforming, while ICICI Bank and Canara Bank lagged.

* Technically, immediate resistance is observed near 60,500, with key support around 59,200.

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