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NIFTY

* Nifty remained volatile but managed to post strong gains, largely supported by favourable global cues and easing crude oil prices.

* After an initial gap-up opening, the Nifty traded under pressure in the first half; however, a strong rebound in heavyweights across sectors during the latter half helped the index settle around 24,330, up 1.24%.

* The Nifty rebounded sharply from its support zone near the short-term moving average (20 DEMA) around 24,000 and ended on a firm note.

* Traders should maintain a positive yet cautious stance, focusing on stock-specific opportunities across sectors, while closely monitoring crude oil prices and geopolitical developments for further directional cues.

BANK NIFTY

* The banking index exhibited a strong rebound and closed at its highest level in six sessions, reclaimed the 20 DEMA but encountered resistance at the 50 DEMA.

* Opening with a gap up, the index briefly retraced before staging a V-shaped recovery, followed by a sharp rally in the latter half.

* All constituents, except Federal Bank, closed positive, led by gains in Yes Bank and IndusInd Bank.

* Immediate resistance is near 57,000, with support around 55,000.

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