Nifty extended its uptrend on Wednesday, with the closing at 25,875.80, up 0.70% - Religare Broking Ltd
NIFTY
* Nifty extended its uptrend on Wednesday, with the closing at 25,875.80, up 0.70%.
* The index opened firm and maintained its upward momentum throughout the session, supported by strong buying in heavyweight counters across sectors.
* On the technical front, the Nifty has successfully reclaimed the 25,800 resistance level, with the next target seen around the 26,000–26,100 zone.
* Participants are advised to focus on selective stock opportunities in line with the ongoing rotational sectoral trend, preferring large-cap and large mid-cap names for long positions.
BANKNIFTY
* The Banking Index extended its winning streak for the fourth consecutive session, sustaining an overall bullish bias.
* The index opened with an upside gap but faced consistent selling pressure, failing to fully close the gap.
* Sectoral performance was mixed, with IndusInd Bank and Canara Bank demonstrating relative strength, while AU Small Finance Bank and Bank of Baroda underperformed.
* Immediate resistance is observed near 59,000, with a defined support zone around 57,600.
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