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Nifty

*  Nifty traded volatile on Thursday but managed to maintain the positive tone, continuing its prevailing trend.

*  After a flat start, the Nifty index oscillated within a limited range in the first half however volatility in heavyweights in the latter half triggered sharp swings.

*  On the index front, we are now on the verge of testing the target zone 25,500 zone, which could prompt some profit taking or consolidation in the index ahead.

*  We thus recommend focusing more on stock-specific opportunities now, preferring stocks where risk to reward is favorable.

BANK NIFTY

*  The banking index sustained upward momentum, trading decisively above key moving averages (50, 100 and 200 EMA).

*  Additionally, the index breached a declining trendline, reinforcing prospects of continued upside.

*  Sectoral performance remained mixed, with AU Bank, Bank of Baroda, and HDFC Bank driving gains, while Canara Bank, IndusInd Bank, and SBI lagged.

*  Immediate resistance is identified near 56,200, whereas critical support is positioned around 55,300.

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