Nifty bounced strongly from the 23430 zone and banks are giving good support to the market today. But one thing to notice is broader market participation is still not fully strong. Many stocks are still in red even with Nifty up more than 1%. Right now, the move is mostly coming from private banks, pharma, metals and healthcare stocks. On the other side, IT stocks are seeing heavy profit booking. So market mood is positive for now, but rally still looks a bit selective instead of full market strength. 23850 is the important zone to watch now. If Nifty crosses that properly, momentum can improve further.

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