Nifty Bank index opened today’s session lower at 55,387 compared to yesterday’s close of 55,510. It is currently hovering around 55,320, down by nearly 0.4 per cent.
The advance/decline ratio stands at 8/4, showing a bullish bias. Canara Bank (up 2 per cent) is the top gainer followed by Bank of Baroda (up 1.8 per cent). On the other hand, ICICI Bank and HDFC Bank, down about 1 per cent each, are the top losers.
Nifty PSU Bank is up 0.6 per cent and is the top sectoral index so far today. Whereas Nifty Private Bank has lost 0.5 per cent. Therefore, as of now, the public sector banks are outperforming the private peers.
Nifty Bank futures
The September futures of Nifty Bank index began today at 55,698 versus yesterday’s close of 55,724. It is currently trading at 55,450, down 0.5 per cent.
Since the beginning of this week, the contract has largely been trading within the sideways band of 55,450-55,850. While there has been selling pressure, the support at 55,450 has held well so far.
We expect this level to help the bulls regain traction. Therefore, there is a good chance for a rally on the back of 55,450. The uptick can take Nifty futures to 55,850. A breakout of this can lift the contract to 56,000.
However, if Nifty Bank futures slip below the support at 55,450, the intraday trend can turn bearish. In such a case, the contract can decline to 55,180 and then possibly to 55,000, potential support levels.
Trade strategy
Since there is a support, traders can buy Nifty Bank futures (September) now at 55,450. Target and stop-loss can be 55,850 and 55,300 respectively.
Supports: 55,450 and 55,180
Resistances: 55,850 and 56,000
Published on September 24, 2025
