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NIFTY

* Nifty witnessed sharp selling pressure on Monday and lost over a percent amid weak global cues and rising geopolitical tensions.

* However, a recovery in the final hour helped trim some of the losses and the index eventually settled at 24,865.70.

* From a technical perspective, the sharp decline has pushed the Nifty closer to its swing low around the 24,600 level, and a decisive break below this could extend the correction towards the 24,400 mark.

* Given the heightened volatility and global uncertainty, we reiterate our advice to maintain a cautious stance, keep position sizes light and focus on disciplined risk management.

BANKNIFTY

* The banking index reacted adversely to global developments, opening with a sharp gap-down and maintaining sustained weakness throughout the week.

* The index signaled early technical deterioration by closing below its 50-day DEMA for the first time in a month, though the 100-day DEMA continues to offer near-term support.

* Broad-based selling pressure was observed across banking stocks, led by PNB and Yes Bank.

* Immediate resistance stands near 59,000, while key support is positioned around 60,800.

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