Nifty Bank index opened today’s session with a minor gap-up at 54,854 compared to yesterday’s close of 54,801. But soon after opening, the index started to fall and is currently trading at 54,560, down 0.4 per cent.

The advance/decline ratio stands at 5/7. AU Small Finance Bank (up 0.5 per cent) is the top gainer. This is followed by Punjab National Bank and IDFC First Bank, up nearly 0.3 per cent each.

At the other end of the spectrum, Kotak Mahindra Bank (down 1.1 per cent) is the top loser followed by IndusInd Bank (down 1 per cent).

Both Nifty PSU Bank and Nifty Private Bank indices have lost about 0.4 per cent each.

Nifty Bank futures 

Nifty Bank futures (May) opened today’s session slightly higher at 54,970 against yesterday’s close of 54,910. It has now dropped to 54,720, down nearly 0.4 per cent.

Note that 54,650 is a support for Nifty Bank futures. This can arrest the fall. In case the bulls can capitalise on this base and lift the contract up, it can rise to 55,650 and 56,000, potential resistance levels.

On the other hand, if Nifty Bank futures slip below 54,650, we are likely to see the downswing extending to the support band of 53,700-53,800. A breach of 53,700 can trigger a fall to 52,250, a notable support.

Trade strategy

Since there is support ahead, traders can go long on Nifty Bank futures (May) now at 54,720 with a tight stop-loss at 54,600. Book profits at 55,650.

In case the stop-loss of above trade is hit, it could mean that the support at 54,650 has given up. In this case, short Nifty Bank futures (May) with a stop-loss at 54,800 for a target of 53,800.

Supports: 54,650 and 53,800

Resistances: 55,650 and 56,000

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Published on May 15, 2025