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Nifty

* Nifty began the week on a strong note, gaining over half a percent amid supportive global and domestic cues.

* Sector-wise, strength in banking, along with a rebound in IT and healthcare, drove the momentum, while metals and FMCG traded on a muted note.

* Technically, the Nifty has reclaimed its short-term moving average (20-DEMA) and looks poised to test 25,150, with potential to extend the move toward 25,400.

* Amid all, we continue to favor themes such as PSU banks, oil marketing companies, and defense, while using dips to accumulate quality names from the metal and auto sectors.

BANK NIFTY

* The banking index extended its upward momentum, marking a fifth consecutive gain and surpassing the previous swing high.

* The session opened with a strong upside gap and maintained upward bias throughout.

* Sectoral performance was mixed, with AU Bank, IDFC First Bank, and Axis Bank driving gains, while IndusInd Bank and Canara Bank underperformed.

* From a technical perspective, the index encounters immediate resistance near 55,200, whereas strong support is positioned around the 54,000 level.

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