Nifty, Bank Nifty Strategy: Indices Weak Despite Global Cues; What to Trade Today?

• Indian indices Sensex and Nifty show weakness on January 5 despite positive global cues, with Sensex down 85 pts and Nifty down 12 pts.
• Nifty's first resistance is at 26376-26409, with a major base at 26213-26254; buying on dips is effective if Nifty holds 26200/109.
• Bank Nifty's first resistance is at 60324-60523, with a major base at 59639-59845; buying on dips towards 60000/Base-1 is recommended.
• FII/DII cash purchases and significant short covering observed; Reliance, HDFC Bank, and ICICI Bank remain strong contributors.
• Geopolitical situation and full FII participation are crucial factors influencing the market's future direction.

Why It Matters: Indian indices are weak despite global cues; Nifty and Bank Nifty strategies focus on buying on dips.