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NIFTY

* Nifty weakened on Thursday, snapping the recent run of gains as profit booking and broader risk-off sentiment resurfaced.

* After opening marginally higher, the Nifty drifted into negative territory and traded lower through the afternoon, weighed down by widespread weakness across key sectors.

* The latest decline has erased the gains of the past three sessions, and a decisive break below the 25,400 level could further weaken sentiment, potentially dragging the index toward the 25,100 gap area.

* We therefore recommend maintaining a cautious stance and waiting for signs of stability before initiating fresh positions.

BANKNIFTY

* The banking index witnessed profit booking, resulting in a corrective move; however, the broader trend remains positive as it continues to trade above the short-term 20 DEMA.

* The index opened with an upward gap but failed to sustain higher levels amid persistent selling pressure.

* Weakness was broad-based across constituents, with IDFC First Bank and Kotak Bank leading the decline.

* Resistance is placed near 61,400, while key support is seen around 59,800 in the near term.

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