The Indian equity markets ended last week positively, marking a third consecutive week of gains driven by improving sentiment and robust buying activity. Rajesh Palviya (analyst at Axis Securities) noted that Nifty is forming a bullish pattern, with a strong Marubozu candle on the weekly chart indicating significant buying interest. Currently, Nifty is testing the crucial resistance level of 24,400; a breakout could lead to further gains towards 24,600–24,700. Palviya recommends a buy-on-dips strategy as long as Nifty stays above 24,100. Similarly, Bank Nifty may experience short covering above 56,800, potentially reaching 57,500. Sector-wise, Palviya highlighted the strength in the FMCG sector, as well as promising trends in metals and capital goods. He also provided stock-specific recommendations, including PNB Housing Finance, with a target of 945 and a stop loss of 915, and Mazagon Dock, targeting 2750 with a stop loss of 2575. Defence stocks are also gaining traction, with notable interest in Apollo Micro and Zen Tech. Overall, the market outlook remains bullish, but investors are advised to exercise caution near resistance levels.