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NIFTY

* Nifty traded under pressure and ended marginally lower amid mixed signals.

* Most sectors, except auto, witnessed losses, with PSU banks, realty, and energy leading the decline.

* On the benchmark front, the Nifty may continue to consolidate with a positive bias unless there is a decisive close below the 23,800 level.

* Meanwhile, we recommend a stock-specific trading approach with a strong emphasis on managing overnight risk.

BANK NIFTY

* The banking index maintained its downward trend and ended the with more than 1% loss.

* All banking stocks fell, with the exception of ICICIBANK, which managed to stay slightly positive due to ongoing results.

* The market could experience further correction, with Banknifty expected to trade within a defined range.

* A close above the recent high of around 56,100 would signal the continuation of the upward rally.

* On the downside, support for the index is seen in the 53,900–53,400 range, while intermediate resistance is found between 55,000 and 55,500.

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