Nifty slipped after recent gains, ending marginally lower as profit-taking took centre stage - Religare Broking Ltd
Nifty
* Nifty slipped after recent gains, ending marginally lower as profit-taking took centre stage.
* The Nifty fell about 0.4% and settled at 25327.05 level as locking in gains ahead of the weekend and in the absence of fresh positive policy cues.
* Technically, we feel the performance of the banking majors, especially the private pack, would remain in focus for a decisive break above 25,500 in the Nifty while others heavyweights could help in keeping the tone positive amid consolidation.
* Participants should maintain their focus on stock selection from the sectors showing higher relative strength and managing overnight trades.
BANK NIFTY
* The banking index posted its first daily decline after a 12-session winning streak, yet secured a third consecutive positive weekly close, reflecting sustained strength.
* The index continues to trade firmly above key EMAs, consolidating momentum following a breakout above a declining trendline.
* Sectoral performance was mixed, with Canara Bank, PNB, and Bank of Baroda providing leadership, while ICICI Bank, HDFC Bank, and Kotak Bank underperformed.
* Immediate resistance is seen near 56,200, with critical support placed around 54,900.
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