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NIFTY

* Nifty ended Wednesday’s session on a subdued note, extending the ongoing corrective phase.

* The Nifty opened in negative territory and remained under pressure for most of the day, with only limited recovery attempts, eventually closing at the 26,140.75 level, down around 0.14%.

* Technically, the Nifty has moved closer to its first line of support, the 20-day DEMA, following the recent dip.

* Participants are advised to focus on stock-specific opportunities and use market dips to gradually accumulate quality names within outperforming sectors.

BANKNIFTY

* The banking index traded in a narrow range with marginal negative bias for most of the session but staged a late recovery, preserving a positive undertone.

* Despite sideways movement, the index maintained strength by holding above the short-term moving average, specifically the 21 EMA.

* Momentum was mixed, with gains led by Yes Bank and Bank of Baroda, while IndusInd Bank and HDFC Bank exerted pressure.

* Technically, resistance lies near 61,000, with support around 59,500.

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