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NIFTY

* NIFTY traded in a subdued manner, closing nearly unchanged after a recent rally.

* Sector-wise, metals, energy, and IT posted decent gains, while FMCG and financials saw profit booking.

* We maintain a consolidation view but with a positive bias, driven by rotational buying in heavyweights.

* Focus on stock selection and use dips to accumulate quality stocks, as Nifty holds strong support around 25,600-25,800 zone.

BANKNIFTY

* Banking index traded lackluster and ended slightly lower, taking a breather after the recent surge.

* Among the banking stocks ,while all other banking majors witnessed profit taking, while HDFCBANK and FEDERALBNK managed to close in green.

* A short-term pause after the strong rally cannot be ruled out. So, adopting a buy-on-dips approach would be wise.

* On the level front, 53350 will act as a key support under the change of polarity rule. On the upside, 55,000, the upper boundary of the rising channel, can serve as the intermediate target.

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