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Nifty

* Nifty traded sideways on Wednesday and ended with a mild downtick, taking a breather after the recent surge.

* After a quiet start, the Nifty moved within a narrow range for most of the session and eventually settled near the day’s low at 25,046.15.

* We continue to maintain a “buy on dips” strategy and recommend focusing on opportunities with a favorable risk-reward setup, particularly within sectors showing consistent relative strength such as auto, metals, and PSUs, while remaining selective in others.

BANK NIFTY

* The banking index experienced mild profit booking following six consecutive sessions of gains, though overall market sentiment remains positive.

* The index continues to trade comfortably above key moving averages (50, 100 and 200 EMAs), maintaining a bullish bias.

* Except for Federal Bank and AU Small Finance Bank, most constituents faced selling pressure and ended lower.

* From a technical standpoint, the index faces immediate resistance near 55,200, while strong support is positioned around the 54,000 level.

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