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Nifty

* Nifty witnessed a volatile session and ended marginally lower, extending the ongoing consolidation phase.

* After a flat start, the Nifty drifted gradually lower in early trade and then remained range-bound for most of the session.

* Although the Nifty slipped below the crucial short-term support of the 20-DEMA around 25950 level during the session, the closing-hour recovery helped it reclaim this level.

* Meanwhile, participants should manage position sizes prudently and maintain a selective approach—favoring IT and pharma for long trades while considering opportunities in rate-sensitive pockets on dips.

Bank Nifty

* The banking index regained traction after two sessions of decline, sustaining a broadly constructive market outlook.

* Although it opened with a downside gap, the index recovered sharply in the latter half amid robust participation, ultimately closing positive.

* Sector momentum was uneven, with ICICI Bank and HDFC Bank showing relative strength, while PNB and Canara Bank lagged.

* Technically, the index encounters immediate resistance near 60,000, with major support established around 58,900.

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