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NIFTY

* Nifty began the week on a firm note, gaining nearly a percent amid mixed cues.

* The benchmark opened on a positive note despite weak global markets, and sustained buying in select heavyweights across sectors pushed the index higher as the day progressed.

* However, participants should remain cautious and not get carried away by a single-day rebound, especially as the index approaches the upper band of its current consolidation range, i.e., the 25,000–25,200 zone.

* We recommend maintaining a stock-specific trading approach, given the mixed trends across sectors, with a preference for relatively less volatile counters.

BANK NIFTY

* The Banking Index saw strong reversal, aligning with the broader rally in benchmark indices, and closed with a gain of 0.75%.

* Most major banks participated in the rally except Canbk which ended in the red, while Aubank, Kotakbank and Hdfcbank led the rally.

* The outlook remains constructive as long as the index sustains above the crucial 55,000 mark.

* A decisive close above 56,200 would likely trigger a fresh leg higher, setting the stage for new highs.

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