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NIFTY

* Nifty remained range-bound and ended almost flat, indicating a pause amid mixed signals.

* After an initial uptick, the Nifty gradually drifted lower in the first half, followed by a sideways move until the close.

* We maintain a cautious stance until the Nifty decisively reclaims the 25,250 mark, while immediate support is seen at 24,900.

* Meanwhile, traders should adopt a hedged approach and focus on fundamentally strong counters, with an emphasis on earnings performance.

BANKNIFTY

* The banking index continues to demonstrate relative outperformance; however, divergence among major private sector banks is capping broader momentum.

* Key constituents, HDFC Bank and ICICI Bank, are showing relative strength post-earnings, maintaining a positive bias.

* Sustained leadership from these names, coupled with broader sectoral participation, will be essential to preserve the index’s bullish tone.

* Technically, the 57,400–57,600 zone is expected to pose immediate resistance, while 56,000–56,200 should offer near-term support on any pullbacks.

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