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NIFTY

* Nifty traded under pressure on Friday and lost over half a percent, dragged down by weak cues.

* The session began on a negative note following disappointing results from IT major TCS, which further worsened due to profit-taking in heavyweight stocks across other sectors.

* As a result, the Nifty slipped below its first line of defense—the 20-day exponential moving average (20-DEMA)—disrupting the ongoing positive trend.

* In this environment, traders should exercise greater caution, focus on risk management, and be selective while identifying trading opportunities.

BANKNIFTY

* The banking index declined in line with the broader bearish market sentiment but demonstrated relative resilience, marking its second consecutive weekly loss.

* It ended the week near its 20-days EMA, indicating that the current consolidation phase may continue until a clear breakout materializes.

* On the downside, support is established around the 56,200 level, aligning with the previous breakout zone.

* Conversely, a sustained close above 57,400 could alleviate recent selling pressure and potentially reignite upward momentum in the index.

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