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NIFTY

* Nifty witnessed a volatile session on Friday, with the benchmark oscillating sharply in both directions before ending with modest gains.

* The Nifty opened on a weak note, weighed down by soft global cues, and drifted lower through most of the day.

* On the index front, Nifty appears to be consolidating, though rotational buying in heavyweights across sectors suggests a measured upward bias.

* Participants should accordingly adopt a selective approach, focusing on steady performers during this consolidation phase.

BANKNIFTY

* The Banking index extended its upward momentum for a sixth consecutive session, registering its highest daily close and reinforcing positive market sentiment.

* Despite weak opening and sustained intraday pressure, late-session buying drove a green close.

* Sectoral performance remained mixed, with Canara Bank and Axis Bank exhibiting relative strength, while IndusInd Bank and ICICI Bank underperformed.

* Immediate resistance is positioned near 59,000, with key support identified around 57,600.

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