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Nifty

* Nifty edged lower and slipped nearly 0.4%, extending Friday’s decline.

* After a subdued start, the Nifty gradually drifted lower through the session and finally settled near the day’s low at 25,942.10.

* We continue to maintain our consolidation view on the index, though the scheduled monthly expiry could lead to some intraday volatility.

* Participants are advised to stay selective, align trades with sectors showing relatively higher strength and keep position sizes in check until a clearer trend emerges

BankNifty

* The banking index extended its corrective phase, recording profit booking for a fourth consecutive session and commencing the week on a negative note after three successive weekly declines.

* The index opened flat, but selling pressure gradually intensified, leading to a weak close.

* Stock performance was mixed: AU Bank and Canara Bank outperformed, while IndusInd Bank and IDFC First Bank underperformed.

* Technically, resistance is placed near 59,500, with support around 58,400.

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