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NIFTY

* Nifty extended their recovery for the second consecutive session on Tuesday, supported by value buying and relatively stable global cues, although volatility persisted.

* The Nifty opened on a firm note and traded within a range for most of the session.

* The index has the potential to extend the rebound towards the 23,800–24,000 zone, while the 23,200–23,000 range is likely to remain a strong support area.

* Meanwhile, we maintain our view to avoid aggressive positioning, stay selective and focus on disciplined risk management until stability is seen in both crude oil prices and global markets.

BANK NIFTY

* The banking index registered a second consecutive recovery session but continues to trade below critical moving averages, signaling persistent underlying weakness.

* The index opened firmly and sustained positive momentum throughout the session, ultimately closing in positive territory.

* With the exception of IndusInd Bank and State Bank of India, which ended lower, all other banking constituents exhibited strength.

* Immediate resistance is placed near 55,700, while key support is positioned around 53,800 levels.

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