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Nifty

* Nifty traded in a narrow range on the weekly expiry day and ended lower by 0.64%, tracking weak global and domestic cues.

* We maintain our consolidation view on the Nifty; however, continued deterioration in the currency could widen the trading range and potentially drag the index below the previous swing low near 25,700.

* On the upside, the 26,000–26,100 zone remains a key hurdle.

* In the current environment, we continue to recommend a stock-specific trading approach, with a preference for hedged positions given the prevailing volatility and choppy market conditions.

BANKNIFTY

* The banking index has been consolidating within a narrow range over the past few sessions, reflecting profit booking after a three-session advance.

* Following a gap-down opening, the index remained under sustained selling pressure throughout the session.

* Most constituents closed lower, with only Kotak Bank and ICICI Bank showing relative resilience.

* Technically, immediate resistance is observed near 60,100, while initial support is positioned around 58,300.

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