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NIFTY

* Nifty remained volatile for yet another session and ended on a flat note.

* The tone was negative in the first half; however, a decent recovery in heavyweight stocks pared all the losses as the day progressed, helping the index close near the day’s high at the 25,461 level.

* We recommend maintaining a “buy on dips” approach until the Nifty decisively breaks below the 25,200 level, with a strong focus on stock selection.

* Despite the recent outperformance, the broader indices are still holding up well; however, one should remain cautious, given the potential for profit booking at higher levels.

BANKNIFTY

* After two consecutive days of declines, banking index closed the week with modest recovery, ended Friday's session in the green.

* The index continues to trend upward within a rising channel, indicating that the primary trend remains positive.

* Banking stocks showed mixed performance: Icicibank and Aubank gained upward momentum, while Indusindbk and Federalbnk experienced weakness.

* Key resistance is observed near all-time high of 57,628.40, while the 56,390–56,100 range is expected to act as strong support, provided by 50% and 61.8% Fibonacci retracement levels of recent up-move.

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