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Nifty

* Nifty extended their winning streak on Friday, gaining nearly half a percent, in line with favorable global and domestic cues.

* Nifty is now approaching its previous swing high of 25,150, which may lead to some consolidation before the index advances towards the 25,250–25,500 zone.

* A decisive breakout above 54,900 in the banking index could act as a major catalyst for fresh momentum; otherwise, the move may remain gradual.

* Meanwhile, traders should continue to focus on the sustained strength in metals, autos, and pharma, while remaining selective in other sectors and themes such as defense and railways.

BANK NIFTY

* The banking index extended its upward trajectory for the eighth consecutive session, registering gains throughout the week.

* While momentum remained subdued in a few sessions, the overall trend turned positive as the index sustained levels above the 200-day exponential moving average (DEMA).

* Sectoral performance was mixed, with Axis Bank and ICICI Bank advancing, while Federal Bank and Canara Bank exhibited weakness.

* Immediate resistance is observed at 55,500, whereas critical support lies near 54,000.

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