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NIFTY

* Nifty remained volatile on weekly expiry day and ended with a cut of nearly 0.5% amid mixed cues.

* The tone was weak from the outset, and the pressure intensified during the first hour of trade.

* Going ahead, Nifty has tested the crucial support near 25,800; a breakdown below this zone could drag the index further towards 25,650 next.

* On the upside, the 26,000–26,200 band is likely to act as a stiff hurdle.

* In this backdrop, we advise traders to keep position sizes in check and wait for clearer signs of stability.

BANK NIFTY

* The banking index exhibited continued volatility, consolidating in a narrow range throughout the session.

* It opened with a downside gap but gradually recovered, retracing initial losses to finish nearly unchanged.

* Sector momentum remained mixed, with Canara Bank and IDFC First Bank outperforming, while ICICI Bank and HDFC Bank weakened.

* From a technical perspective, the index faces immediate resistance near 59,800, whereas initial downside support is established around the 58,500 level.

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