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NIFTY

* Nifty extended recovery for the second consecutive session on Wednesday, supported by easing geopolitical tensions and declining crude oil prices.

* However, marginal profit booking in the final hours trimmed the gains, and the index eventually settled at 23,306.45, up 1.72%.

* On the index front, the rebound is gradually gaining traction and is likely to extend toward the 23,600–23,800 zone, while the 22,600–23,000 band is expected to act as immediate support on any dip.

* Amid the current environment, participants are advised to avoid aggressive positioning and remain selective, preferring stocks that consistently outperform within their respective sectors.

BANKNIFTY

* The banking index recorded a second consecutive session of gains; however, it remains significantly below its short-term 20-DEMA, indicating prevailing near-term weakness.

* The index opened on a positive note, extending prior momentum and sustaining strength throughout the session.

* Broad-based buying was observed across constituents, led by Union Bank and AU Small Finance Bank.

* Immediate resistance is positioned near 55,600, while strong support is identified around 51,800.

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