Nifty Rebounds, Ends 7-Session Losing Streak - Religare Broking Ltd
NIFTY
* Nifty staged a strong rebound on Thursday, snapping their seven-session losing streak amid supportive global cues.
* Technically, the Nifty has staged a rebound from the 24,000 trendline support, providing a breather after the recent slide.
* The immediate hurdle remains at 24,300–24,400, and a decisive move above this zone could improve the near-term bias and extend the recovery towards 24,600.
* On the downside, 24,000 is expected to provide immediate support, while a decisive break below this level could revive the corrective trend.
* Participants should prefer relatively stronger stocks and sectors while maintaining disciplined risk and position management.
BANK NIFTY
* The banking index regained momentum after two consecutive sessions of decline; however, upside remains capped by stiff resistance around the 20 DEMA.
* Following a gap-up opening, the index consolidated within a narrow range, indicating indecision.
* Sectoral breadth remained mixed, with Kotak Bank and AU Bank relatively outperforming, while IndusInd Bank and Union Bank underperformed.
* Immediate resistance is placed near 58,600, while 56,650 remains the crucial support zone.
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