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NIFTY

* Nifty witnessed a range-bound yet positive session on Friday, extending gains for the fifth consecutive day, supported by favourable global cues.

* The Nifty 50 opened on a steady note and traded within a narrow band throughout the session with a mild upward bias, eventually settling near the day’s high at 24,353.55, up 0.65%.

* We maintain our view of a potential upside towards the 24,600–24,800 zone, with an immediate base placed around the 23,900–24,100 range.

* Traders should continue with a positive yet cautious stance, focusing on sectors and themes showing strong traction with volumes, while avoiding averaging in laggard stocks.

BANKNIFTY

* The banking index regained upward momentum, registering a second consecutive weekly advance while continuing to consolidate within the 50 and 100 EMAs.

* The session opened firm and sustained strength throughout, closing at the day’s high.

* Broad-based participation supported the move, led by Federal Bank and Yes Bank.

* Near-term resistance is seen around 56,700, with support placed near 54,400.

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