Nifty had a decent rally on Friday following a period of downward consolidation in the previous few sessions. The index sustained above the 21 EMA at closing, setting the stage for solid gains in the near term. Banks, which had not been supportive in the last few sessions, came in with their full support.
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Bank Nifty has breached the 48,800 level and is trading higher, with expectations of reaching 49,225. Autos, metals, and PSU banks are leading gains, with