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NIFTY

* Nifty remained under pressure on Tuesday, extending the recent corrective phase amid escalating geopolitical tensions and persistent foreign selling.

* Technically, the Nifty is approaching the crucial support zone of 23,600, which coincides with the previous swing low of July 2026.

* A decisive break below this level could weaken the structure further and extend the correction towards 23,300–23,100.

* Given the combination of elevated crude prices, geopolitical uncertainty, renewed FII selling and weak market momentum, we recommend maintaining a cautious, stock-specific approach, with strict risk management and selective buying focused on relatively stronger pockets.

BANK NIFTY

* The banking index extended its profit-booking phase for the third consecutive session, decisively breaching the 100 DEMA, while the 200 DEMA now constitutes a key immediate support.

* Following a gap-down opening, persistent selling pressure kept the index subdued throughout the session.

* Sectoral momentum remained mixed, with AU Bank and PNB showing relative strength, while Union Bank and ICICI Bank underperformed.

* Immediate resistance stands near 57,300, with 56,000 as crucial support.

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