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NIFTY

* Nifty extended gains for the second consecutive session on Thursday amid mixed cues.

* Technically, the Nifty has reclaimed its medium-term moving average, the 100-day EMA, around the 24,130 zone, indicating an improvement in the overall bullish tone.

* A sustained move above this level could pave the way for an extension towards the 24,450–24,600 zone in the near term.

* With rotational participation expanding across sectors and broader markets continuing to outperform, we maintain a positive stance and recommend following a "buy-on-dips" approach while focusing on relatively stronger stocks and maintaining disciplined risk management.

BANK NIFTY

* The banking index closed with a flat note following heightened intraday volatility, still sustaining above key important moving averages.

* Despite a gap-up opening, persistent profit booking exerted downward pressure.

* Performance remained mixed, with ICICI Bank and IDFC First Bank outperforming, while Bank of Baroda and Yes Bank underperformed.

* Immediate resistance is placed at 58,800, whereas 56,900 represents critical support.

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