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NIFTY

* Nifty failed to capitalize on early gains and ended lower.

* Technically, the Nifty continues to face hurdle on rebound, indicating weakening near-term structure.

* The 23,800 zone remains an important near-term support, and a decisive break below this level could reopen the downside towards the 23,700–23,600 zone.

* On the upside, the 24,000–24,150 region is likely to act as the resistance zone.

* Given the prevailing combination of elevated crude prices, geopolitical uncertainty and weak market momentum, we recommend maintaining a cautious, stock-specific approach with a strong focus on risk management.

BANK NIFTY

* The banking index regained momentum and reclaimed the 50-DEMA, although the 20-DEMA remains an immediate hurdle.

* Following a gap-up opening, the index sustained its upward trajectory, despite profit-taking emerging during the latter half.

* Sectoral breadth remained mixed, with IDFC First Bank and IndusInd Bank outperforming, while Federal Bank and AU Bank underperformed.

* Immediate resistance is placed near 58,300, while 56,700 continues to be the crucial support zone.

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