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NIFTY

* Nifty witnessed a sharp sell-off on Thursday, reversing the recent recovery trend amid weak global cues and heightened geopolitical tensions.

* From a technical perspective, the Nifty has erased the gains of the previous three sessions in a single move and breached the prior swing low around the 22,900 level during the day.

* Given the current market environment, participants are advised to align their positions with the prevailing trend.

* It is prudent to prefer option strategies over naked positions in the benchmark, while adopting a selective approach in stock-specific trades, with a strong emphasis on managing overnight risk.

BANK NIFTY

* The banking index registered a sharp decline following three consecutive sessions of gains, realigning with its prevailing medium-term downtrend.

* The index opened with a significant downside gap and sustained weakness throughout the session, fully erasing the gains recorded in the prior three sessions.

* Broad-based selling pressure was observed, with losses primarily driven by HDFC Bank and IDFC First Bank.

* Immediate resistance can be expected near 55,500, while strong support around 52,600 level.

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