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NIFTY

* Nifty traded with a positive bias and gained over half a percent, offering some relief after the recent decline.

* As a result, it surpassed the short-term moving average (20 DEMA) and moved closer to the previous swing high zone near 25,250, eventually settling at the 25,219.90 level.

* On the sectoral front, the trend remained mixed, with auto, banking, and financials ending in the green, while realty and FMCG closed in the red.

* Amid these developments, we maintain our cautious stance and continue to recommend a hedged approach.

BANKNIFTY

* The banking index rebounded following a prior decline, closing with a positive bias, indicating sustained upward momentum.

* It surpassed a previously declining trend line, which has now transitioned from resistance to a strong support level.

* Except for Canbk, all index components closed higher, with Aubank and Bankbaroda leading the gains.

* Technically, immediate resistance is anticipated near 57,400–57,700, while the 56,600 zone is expected to provide near-term support during pullbacks.

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