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Nifty

*  Markets ended the week on a strong note, with the Nifty 50 scaling a fresh 52-week high amid supportive global and domestic cues.

*  Sectorally, the banking index touched a new record high, while FMCG, auto, and pharma also finished in the green. In contrast, IT and metal stocks edged lower.

*  Technically, the Nifty’s prevailing positive tone remains intact, with the next targets seen at 26,000, followed by new lifetime highs.

*  However, given the recent underperformance in the broader market, traders are advised to focus on index heavyweights and larger midcaps for long trades.

BANK NIFTY

*  The banking index extended gains to mark a record high, closing at 57,713.35 amid a volatile session.

*  Private banks outperformed PSU peers, with IndusInd Bank, ICICI Bank, and HDFC Bank leading the gains, while PNB and Canbk ended lower.

*  With the index marking a new high and maintaining positive momentum, the uptrend is expected to continue, though minor consolidation cannot be ruled out.

*  On the level front, 57300- 57000 will act as support, while on the upside, 58000- 58500 will be next level to watch out for.

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