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Nifty

* Nifty started the week on an upbeat note, gaining nearly a percent and providing a breather after the recent decline.

* The tone was positive from the outset and further strengthened in the latter half, supported by a noticeable recovery in heavyweights across sectors.

* Still, only a decisive close above the 24,600 mark could extend this recovery towards the 24,800–25,000 zone.

* Traders should maintain a hedged approach and focus on stocks consistently displaying relative strength for long positions.

BANKNIFTY

* The banking index, despite opening negatively, traded positively throughout the session and closed with nearly 1% gains.

* The inside bar candlestick indicates market indecision; however, the 100-day exponential moving average (DEMA) continues to provide robust support.

* Except for Aubank and Federal Bank, all constituent banks closed higher, demonstrating broad sector strength.

* Key support levels are identified between 54,500 and 54,900, while resistance is expected near 55,750 to 56,000.

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