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Nifty

* Nifty traded lackluster for the second consecutive session and ended marginally lower, indicating continued consolidation after the recent surge.

* Sectoral trends remained mixed and rotational, with profit-taking seen in select IT, pharma and FMCG stocks, while realty and metals ended largely flat.

* We maintain a positive bias amid the ongoing consolidation in the index and continue to recommend a “buy-on-dips” approach as long as the Nifty holds its prevailing uptrend.

* Until then, focus on sectors showing consistent outperformance, and adhere to disciplined risk management in the low-volume environment.

BankNifty

* The banking index failed to capitalize on early gains and ended marginally lower, continuing the ongoing consolidation for yet another session.

* Most banking majors ended in the red, with FEDERALBNK and IDFCFIRSTB emerging as the top laggards.

* For fresh momentum, the banking index will need a decisive breakout above the 59,500 level. Until then, we may see 1,000-point trading band of 58,800–59,800 remain intact.

* On the downside, immediate support lies at 59,000, followed by 58,800–58,700 zone.

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