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Nifty

* Nifty remained volatile and ended lower, extending the cautious sentiment ahead of the US Federal Reserve’s policy outcome.

* After a brief positive start, the Nifty index gradually drifted lower through the session and finally closed near the day’s low at 25,758, down 0.32%.

* A decisive break below this level could further widen the consolidation range, with the next major support at 25,400 level.

* Until clarity emerges, we recommend maintaining a stock-specific trading approach, with buying opportunities in private banks, autos, and metals, while also keeping selective short positions as a hedge against potential downside risk.

BANK NIFTY

* The banking index extended its profit-booking phase for a third consecutive session, closing marginally below the 20-DEMA for the first time in an extended period.

* Despite a strong opening, the index lost momentum, reversing intraday gains and finishing lower, reinforcing a short-term bearish tone.

* Except for AU Bank and Axis Bank, most constituents remained weak.

* Technically, immediate resistance is positioned near 59,500, with initial downside support around 58,300 levels, respectively.

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