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NIFTY

* Nifty traded under pressure on Friday, giving up part of the previous session’s gains amid cautious global sentiment and profit booking in select heavyweights.

* However, selling pressure in select heavyweights during the final hour pushed the index sharply lower, and it eventually closed near the day’s low at around the 24,450 level.

* A break below the recent swing low of 24,300 could quickly drag the index toward the 24,000 level.

* Given the current setup, we maintain a cautious stance and recommend staying selective while focusing on strict risk management until the market stabilizes.

BANKNIFTY

* The banking index experienced significant selling pressure, closing in negative territory for the second consecutive week and approaching the 200- DEMA.

* The index opened with a gap down on Friday, with persistent selling throughout the session, indicating sustained weakness.

* Broad-based profit booking led to declines across banking constituents, with losses primarily driven by ICICI Bank and PNB.

* Immediate resistance is positioned near 58,700, while key support is observed around 57,000.

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