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NIFTY

* Nifty edged higher on Wednesday, extending the prevailing positive trend and ending the session with decent gains.

* We believe the 24,800–25,000 zone could offer a favourable opportunity for fresh buying, with 24,600 serving as the key level for invalidating our positive view.

* With key sectors participating in the rally on a rotational basis, participants should focus on identifying quality stocks across promising themes, particularly PSU banking, capital markets and oil & gas.

* Any dips or consolidation should be utilised to accumulate quality names rather than chase extended moves.

BANK NIFTY

* The banking index extended its upward trajectory for the second consecutive session following a brief consolidation, sustaining comfortably above its key moving averages.

* A positive opening gap was followed by persistent buying interest throughout the session.

* Market breadth remained mixed, with Bank of Baroda and Federal Bank outperforming, while ICICI Bank witnessed profit booking.

* Immediate resistance is placed at 61,700, whereas 59,600 remains a crucial support for the index.

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