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NIFTY

* Nifty witnessed a notably steady session and ended marginally in the red, taking a breather after the recent rebound.

* After the flat start, the Nifty index oscillated in a narrow range till the end and finally settled closer to the day’s low at 25,069.20 level.

* Sectorally, mixed trend kept the participants occupied wherein realty and energy were among the top gainers while IT and pharma experienced muted performance.

* We thus recommend maintaining a positive yet cautious stance with focus on stock selection based on the rotational sectoral trend and themes like defense and railways for long positions.

BANK NIFTY

* The banking index extended its positive momentum, sustaining a bullish undertone.

* The 200 EMA has consistently offered reliable support, while a recent close above the 100 EMA confirms strength after breaching a key resistance level.

* Sector performance remained mixed, with Canara Bank and PNB showing notable gains, contrasted by relative weakness in IDFC First Bank and Kotak Bank.

* Immediate resistance is placed near 55,500, while critical support is established around the 54,200 zone.

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