Nifty markets started the week on a positive note, gaining over half a percent amid volatility, continuing Friday`s rebound - Religare Broking

NIFTY
* Nifty markets started the week on a positive note, gaining over half a percent amid volatility, continuing Friday’s rebound.
* All key sectors moved in sync with the overall trend, with auto, IT, and FMCG emerging as the top gainers.
* As the Nifty once again approaches its previous swing high, sustained strength in key sectors, especially banking, will be crucial to surpass the 25,200 hurdle and regain upward momentum.
* In the meantime, traders are advised to remain stock-specific and use any intermediate dips or pauses as opportunities to accumulate quality names across sectors.
BANK NIFTY
* Bank Nifty crossed above its recent trading range and even managed to mark a close above the consolidation area suggesting bullish momentum to remain intact.
* Early trading reflected a balanced tussle between buyers and sellers, with momentum oscillating near critical moving averages.
* Heightened intraday volatility was observed as the index approached support levels, but consistent buying interest helped maintain overall strength.
* For continued upside traction, a decisive close above the resistance zone 55,500-55,700 is still needed.
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