Nifty extended its gains on Friday and reclaimed record-high levels, marking a strong start to the New Year - Religare Broking Ltd
Nifty
* Nifty extended its gains on Friday and reclaimed record-high levels, marking a strong start to the New Year.
* As anticipated, the Nifty has decisively crossed the key resistance at 26,200 and moved to a fresh record high.
* The prevailing trend remains positive, with the index now poised to gradually test the 26,500–26,700 zone in the near term.
* With broad sectoral participation excluding FMCG, participants are advised to focus on stock selection based on relative sector strength and favourable risk–reward opportunities.
BankNifty
* The banking index sustained strong upward momentum, rebounding after a three-week corrective phase and closing the week firmly higher.
* The index recorded its highest daily and weekly close, confirming a positive short-term trend bias.
* Barring Kotak Bank, Axis Bank, and AU Bank, all constituents ended in positive territory, indicating broad-based strength.
* From a technical perspective, immediate resistance is placed near 61,000, while key support is seen around 59,500.
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