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NIFTY

* Nifty kicked off the week on a strong note, gaining nearly 1.5% .

* All major sectors participated in the rally, with banking, financials, realty, and energy emerging as top gainers.

* Nifty has reclaimed its 200-day DEMA, reinforcing the positive sentiment.

* The prevailing momentum is likely to sustain and expect Nifty to inch towards 23,800-24,100 zone.

* Traders should align their positions accordingly, with a keen focus on stock selection.

BANK NIFTY

* The banking index began the week on a strong note, outperforming the benchmark, while soaring higher by 2%.

* Almost all banking majors contributed to the move wherein Kotakbank, Hdfcbank, Sbin contributed the maximum.

* Although the current rally shows no signs of exhaustion, the index is approaching a critical hurdle near 52000.

* On the downside, immediate support lies at 51400-51000, followed by stronger support at 50600, near the neckline of breakout zone.

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