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NIFTY

* Nifty extended its winning streak on Monday, supported by encouraging quarterly business updates.

* Technically, the Nifty has further strengthened its bullish structure by surpassing the crucial hurdle of the 200-day EMA around the 24,421 mark.

* The index now appears well-positioned to inch towards the 24,600 level, which coincides with the previous swing high, and a decisive breakout above this zone could open the door for a move towards the 25,000 mark.

* With rotational participation continuing across sectors and broader markets maintaining their positive bias, we recommend focusing on relatively stronger stocks while maintaining disciplined risk and position management.

BANK NIFTY

* The banking index extended its consolidation phase while maintaining a constructive bias, sustaining levels well above key moving averages.

* Following a gap-up opening, the index traded in positive territory throughout the session.

* Stock-specific performance remained mixed, with IndusInd Bank and HDFC First Bank outperforming, while Kotak Bank and Union Bank underperformed.

* Immediate resistance is positioned at 59,200, whereas 57,400 working as a critical support.

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