Nifty Bank rallies 1,000 points; HDFC Bank, IndusInd, Yes Bank, and other stocks jump up to 3%. What lies ahead?

The Nifty Bank index surged nearly 2% to cross the 57,800 mark, led by HDFC Bank gaining ~3% to Rs 1,793.50, with most bank stocks rising 1-3%. The rally was driven by short covering in private sector banks, the RBI's new FCNR(B) swap window for NRI deposits, and a US-Iran peace deal framework that eased global risk sentiment. Nomura reiterated a 'Buy' on HDFC Bank citing favourable risk-reward, while technical analysts noted a breakout above the 56,400 resistance and reclaiming of the 100-DMA, suggesting further upside toward 57,000 and beyond.