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Nifty 

* Nifty edged higher and gained nearly half a percent, in continuation to Wednesday’s rebound.

* Majority of sectors traded in sync with the move wherein realty, IT and oil & gas were among the top gainers.

* We may see a breather in the index after the recent rebound but the tone is likely to remain positive.

* While all the key sectors are participating in the move, we suggest continuing with the “buy on dips” approach, focusing on quality names on dips.

Bank Nifty

* Banking index traded in a defined range throughout the day and closed higher for second consecutive session.

* Mixed trend was witnessed among the private banking majors. Wherein Axis Bank and Indusind bank remained subdued. While HDFC Bank and Kotak Bank inched higher.

*  Banking index has an intermediate hurdle around 49700 zone, sustenance above the same would ignite further upmove towards 50100 zone.

* Traders should focus on stock selection and focus on stocks which are showing higher relative strength.

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