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Nifty

* Nifty remained lackluster and ended marginally lower, extending the ongoing corrective phase.

* Sectoral trends were mixed, with energy, metal, and banking stocks gaining, while auto and IT sectors underperformed.

* We maintain a cautious outlook on the index, with key support at the 21,800-22,000 zone.

* Among sectors, banking, financials, and metals are exhibiting relative strength, while others present a mixed trend.

* Traders should align their positions accordingly while managing risk with prudent position sizing.

Bank Nifty

* Following a gap-down start, the banking index recovered swiftly from its initial losses and closed with marginal gains.

* Mixed trend continued among the majors, wherein Sbin outperformed while Axisbank, Federalbnk ended lower.

* The index defended its support zone of 47800-47500 once again, demonstrating resilience. Now, a break above 48600, could spark some recovery, but the sentiment remains cautious.

* However, a drop below 47500 could lead to continuation of the corrective phase.

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