Nifty Bank index began today with a gap-up at 59,225 versus Friday’s close of 59,069. It moved up after opening and is now hovering around 59,300, up 0.4 per cent.
The advance/decline ratio stands at 10/2, showing a considerable positive bias. IDFC First Bank (up 1 per cent) and The Federal Bank (up 0.9 per cent) top the chart so far today.
AU Small Finance Bank (down 0.6 per cent) and State Bank of India (down about 0.1 per cent) are the losers in the index.
Nifty Private Bank and Nifty PSU Bank are up 0.35 per cent so far today.
Nifty Bank futures
The December expiry Nifty Bank futures opened today’s session higher at 59,425 versus last week’s close of 59,231. It is now trading at 59,460, up 0.4 per cent.
Last week, the contract bounced off the 50-day moving average at 59,000. Also, the price band of 59,000-59,150 is a strong base. Now that Nifty Bank futures has opened on the front foot today, and that the broader uptrend remains intact, the probability of a rally from the current level is high.
While 59,750 is the nearest hurdle, we expect Nifty Bank futures to surpass this level and rise to 60,200 and 60,500 in the near term. A breakout of the latter can push the contract further up to 61,000, a resistance.
On the other hand, if there is a decline, Nifty Bank futures is unlikely to decline below the support at 59,000. But if that happens, it can extend the decline to 58,250, a support.
Trade strategy
Last week, we recommended buying Nifty Bank futures (December) at 59,150 and suggested carrying the trade to this week. Hold on to this position. Target and stop-loss can be 60,500 and 58,900 respectively.
Retain this trade for the next few sessions as the rise to 60,500 is unlikely to happen today itself.
Supports: 59,150 and 59,000
Resistances: 60,200 and 60,500
Published on December 22, 2025
