Nifty Bank index is under pressure. The index is trading down by 0.3 per cent and is currently at 58,709. The advances/declines ratio is at 6:6. This leaves the picture unclear.
Nifty Bank outlook
There is room to fall more. Support is in the 58,600-58,580 region which can be tested during the day. This 58,600-58,580 is a good support zone. As such we can expect the Nifty Bank index to reverse higher from this support zone. That leg of rise may have the potential to take the index up to 59,000-59,100 again.
In case the index declines below 58,580, then a deeper fall to 58,400 is possible.
Nifty Bank Futures
The Nifty Bank November Futures (58,835) is down 0.25 per cent. The contract has a support at 58,760 which is holding well for now. However, a decisive break above 59.080 is needed to gain bullish momentum. Only then the bias will turn positive for a rise to 59,400 and higher levels.
On the other hand, the contract will come under more pressure if it breaks below 58,760. Such a break can drag it down to 58,600.
Trade strategy
The next leg of move will depend on whether the contract sustains above the support at 58,760 or not. So, it is better to stay out of the market for now.
Supports: 58,760, 58,600
Resistances: 59,050, 59,400
Published on November 19, 2025
