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Nifty

* Nifty edged higher on Wednesday, gaining nearly half a percent amid upbeat global cues.

* After a positive start, the Nifty 50 gradually moved higher throughout the session and closed at 26,053.90.

* With rotational buying seen across sectors, we expect the prevailing uptrend to continue, with the Nifty eyeing a fresh record high.

* While improving market breadth adds to the positive undertone, we continue to advise a selective approach, favoring fundamentally strong companies.

BANK NIFTY

* The Banking Index extended its upward trajectory for the third consecutive session, demonstrating sustained strength after an initial dip.

* The index closed in positive territory, maintaining levels above key moving averages, reinforcing a bullish undertone.

* Sector performance was mixed, with SBIN and IndusInd Bank showing notable gains, while Bank of Baroda and Canara Bank underperformed.

* Technically, the index faces significant resistance near 59,000, whereas support around 57,450 remains a crucial level for short -term market participants.

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