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NIFTY

* Nifty witnessed a strong rebound on Tuesday, recovering a part of the previous session’s sharp losses amid improved global cues and easing concerns over crude oil prices. 

* The Nifty opened on a firm note following positive global signals but remained range bound thereafter to finally close at 24,261; up by 0.97%.

* On the technical front, the rebound has helped the Nifty move back above the 24,000 mark, indicating some stability after the recent breakdown.

* Given the prevailing volatility and global uncertainties, participants are advised to remain selective and focus on disciplined risk management while taking fresh positions.

BANKNIFTY

* The banking index rebounded modestly, closing in positive territory after experiencing a sharp decline over the previous two sessions.

* Despite the recovery attempt, the index settled below its 200- DEMA, indicating that near-term weakness may persist.

* Broad-based buying interest was observed across banking constituents, with gains primarily driven by Union Bank and ICICI Bank.

* Immediate resistance is positioned around 57,700, while a support level is near 55,900.

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