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NIFTY

* Nifty traded in a lackluster manner and ended almost unchanged, taking a breather after the recent surge.

* Following an initial gap-up opening, Nifty quickly gave up its gains and moved in a narrow range for the rest of the session.

* Amid this, we maintain our positive outlook and suggest adopting a “buy on dips” approach, with a strong emphasis on stock selection.

* Traders should align their positions accordingly

BANK NIFTY

* The banking index witnessed profit booking and ended in the red after a day when it touched record all-time high.

* In line with trend, most banking majors ended in red wherein Idfcfirstb, Aubank were top losers, while Axisbank and Indusindbk posted gains.

* A "buy on dips" approach is recommended, with the 56,300-56,000 zone now serving as a support base.

* Focus on banking stocks showing relative strength and avoid laggards.

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