Nifty outlook: Further dips possible before a move towards 25,100, says Anand James

The current setup still appears more constructive than outright bearish in the case of BankNifty. The index is approaching a rising trendline support, while the narrowing trading range suggests volatility compression ahead of a potential breakout move. The key concern remains the lack of participation from heavyweight constituents such as HDFC Bank and SBI, which has limited upside momentum and prevented banking from reclaiming market leadership.