The banking index staged a rebound after a two-day breather and closed with one percent gain - Religare Broking Ltd
NIFTY
* Nifty regained momentum after a marginal dip, ending the day with gains of nearly one and a half percent.
* Following a flat start, the Nifty witnessed sharp fluctuations in the first half; however, a decisive surge in heavyweight stocks across sectors drove strong momentum as the session progressed.
* All major sectors contributed to the rally, with realty, auto, and metals emerging as the top gainers.
* A decisive breakout above the 25,200 level could potentially take the index towards the 25,400+ zone.
BANK NIFTY
* The banking index staged a rebound after a two-day breather and closed with one percent gain.
* The heavyweights like Icicibank, Hdcbank, Axisbank performed well, outshining other banking majors reaffirms our positive outlook.
* A decisive breach of the 55700-56100 zone, could unlock further upside potential.
* On the downside, 54400-54200 range will act as support zone.
* Traders are advised to continue with ‘buy on dips’ approach.
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Nifty closed at 25062 with a gain of 484 points - Jainam Share Consultants
