Nifty remained volatile on Friday and ended marginally higher amid mixed cues.
NIFTY
* Nifty remained volatile on Friday and ended marginally higher amid mixed cues.
* After a firm start, the Nifty maintained a positive tone during the first half of the session; however, profit booking near the key resistance zone trimmed most of the gains as the day progressed.
* We continue to maintain our consolidation view on the Nifty until it decisively breaks above the key resistance zone of 23,800–24,000, while support remains intact in the 23,250–23,400 range.
* Participants should maintain their focus on stock selection and disciplined trade management while keeping a close watch on position sizing.
BANKNIFTY
* The banking index regained bullish momentum, ending both daily and weekly sessions in positive territory, although resistance near the 20DEMA continues to cap upside movement.
* The index opened with a positive gap and sustained buying strength throughout the session.
* Except State Bank of India, which showed slight weakness near closing, all major constituents advanced, led by Axis Bank and AU Small Finance Bank.
* Resistance stands at 55,100, while support is positioned near 53,200.
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