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NIFTY

* Nifty made a muted start to the week and ended marginally lower, taking a breather after the recent surge.

* After a flat opening, the Nifty oscillated within a narrow range throughout the session and settled near the day’s low at 24,945.45.

* We believe this intermediate pause in the index, without any significant damage to the overall structure, is a healthy sign.

* Apart from corporate earnings, global cues and the trend in foreign fund flows will remain key factors to watch.

BANK NIFTY

* The banking index opened the week on a positive note but faced encountered pressure at key hurdle, resulting in a flat close.

* PSU banks outperformed private peers, with PNB, Bank of Baroda, and Canara Bank leading the charge.

* A decisive breakout above the 55,700–56,100 zone is needed to conclude the ongoing consolidation.

* On the downside, support is seen near 54,400, aligning with the 20 DEMA.

* The overall trend remains bullish, with stock-specific opportunities, particularly in PSU banks, drawing renewed interest.

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