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NIFTY

* Nifty traded within a narrow range following Tuesday’s dip but managed to close slightly higher.

* However, the absence of sustained buying interest and a mixed performance among heavyweight stocks limited further gains as the day progressed.

* In the meantime, traders should maintain a stock-specific approach and use this consolidation phase to accumulate fundamentally strong names.

* However, it's important to maintain a balanced view and avoid excessive exposure

BANK NIFTY

* The banking index remained relatively subdued, with persistent weakness from the early hours of trading, closing with a slight decline of 0.25%.

* Stock-specific movements were mixed, with IndusIndbk and Canbk being the main gainers, while Kotakbank and Aubank saw losses.

* Despite the short-term consolidation, the broader trend remains positive, unless unforeseen geopolitical events impact sentiment.

* As the index continues to fluctuate within a range, dips towards the support zone of 54,500-54,150 can be seen as opportunities for long positions, with the target set at the resistance level of 55,600.

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