FILE PHOTO: A man walks past a new brand identity for Nifty Indices inside the National Stock Exchange (NSE) building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas/File Photo
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FRANCIS MASCARENHAS
Nifty Bank index seems to be bouncing back after a subdued trading since the beginning of the week. The index has found good support in the 55,600-55,650 region over the last couple of days and has reversed higher today. It is currently trading at 55,915, up 0.4 per cent. The advances/declines ratio is at 8:4. This is positive. If the trend sustains, then it can take index further higher during the day.
Nifty Bank Index outlook
Nifty Bank index has an immediate support at 55,800. Below that 55,600-55,550 will continue to act as the next important support.
Intraday resistance is at 56,100. A break above it can take the Nifty Bank index up to 56,500-56,700 in the coming sessions.
Failure to breach 56,100 and a downward reversal from there can take the index down to 55,800 and 55,600 again. As such the price action in the 56,100 region will need a close watch today.
Nifty Bank Futures
The Nifty Bank August Futures (56,050) is up 0.42 per cent. The contract has resistance at 56,230. A decisive break above 56,230 is needed to ease the downside pressure completely. Only then a rise to 56,800 will come into the picture.
Support is in the 56,000-55,900 region. The contract will come under pressure for more fall only if it declines below 55,900. If that happens, a fall to 55,600 is possible.
For now, we expect the contract to sustain above the 56,000-55,900 support zone and rise to 56,230 first. Thereafter we need to watch the price action.
Trade Strategy
Traders with high-risk appetite can go long now at 56,050. Accumulate on dips at 55,950. Keep the stop-loss at 55,880. Trail the stop-loss up to 56,070 as soon as the contract goes up to 56,110. Move the stop-loss further up to 56,125 and 56,160 when the contract touches 56,145 and 56,185 respectively. Exit the longs at 56,220.
Supports: 56,000, 55,900
Resistances: 56,230, 56,400
Published on August 21, 2025
