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NIFTY

* Nifty edged higher in a volatile session on Wednesday, extending their ongoing recovery.

* Going ahead, the performance of the banking pack, especially leading private sector banks, will be critical in sustaining the recovery and helping the index build a stronger base and inch towards 24,200 next, followed by the 24,400–24,700 zone, while the 23,200–23,500 range is expected to provide immediate support.

* Meanwhile, participants should remain selective, prioritise stocks displaying relative strength across sectors and avoid averaging down in loss-making counters that continue to lag the broader recovery.

BANK NIFTY

* The banking index extended its gains for the third consecutive session, decisively reclaiming and sustaining above the 50 DEMA.

* The index maintained a positive bias throughout the session, advancing towards its previous swing high.

* Sectoral participation remained mixed, with AU Bank and YES Bank outperforming, while Kotak Bank and ICICI Bank witnessed relative weakness.

* Immediate resistance is placed near 56,700, with crucial support at 55,000.

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