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Nifty

* Nifty started the week on a positive note, reflecting the prevailing bullish bias after a brief pause.

* The Nifty opened higher and maintained its upward momentum throughout the day, eventually settling at 25,966, up 0.66%.

* Additionally, buying in heavyweights across sectors on the back of favorable quarterly results further boosted risk sentiment, adding momentum to domestic equities.

* We maintain our positive stance and suggest focusing on buying opportunities during dips, with a preference for sectors and themes that are moving in sync with or outperforming the benchmark.

BANK NIFTY

* The Banking Index recovered the previous session’s losses, reaffirming a continuation of positive momentum.

* It remains firmly above key moving averages i.e. 50, 100 and 200 EMAs — with immediate support provided by 50 DEMA.

* Except for Kotak Bank and IDFC First Bank, all constituents contributed to the upswing, led by Canara Bank and Bank of Baroda.

* Technically, the index faces crucial resistance near 59,000, while support at 57,300 serves as a key reference for traders.

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