The banking index maintained relative strength, closing with modest gains - Religare Broking
NIFTY
* Nifty started the week on a volatile note and ended almost flat, continuing its consolidation phase.
* It initially opened with a downtick; however, strength in select heavyweights followed by a gradual recovery in other sectors helped pare the losses.
* Meanwhile, a mixed trend across sectors kept traders active, with realty and FMCG emerging as gainers, while metal and IT closed in the red.
* Amidst all this, buoyancy in select themes and the broader market is offering ample trading opportunities, so participants should remain focused accordingly.
BANK NIFTY
* The banking index maintained relative strength, closing with modest gains.
* This broad-based resilience saw most banking stocks trading positively, with Aubank, PNB, Bank of Baroda, and Federal Bank emerging as top gainers.
* However, until a confirmed breakout occurs, traders should exercise caution and avoid premature entries.
* On the technical front, 56,100 remains a key resistance level, while support has shifted higher to the 55,000 mark, indicating a firmer base.
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