Nifty Bank index began today’s session marginally higher at 55,554 versus Friday’s close of 55,527. It is currently hovering around 55,530.
The advance/decline ratio stands at 3/9. Kotak Mahindra Bank ( up 0.75 per cent) and HDFC Bank (up 0.5 per cent) are the top gainers.
On the other hand, Canara Bank (down 1.4 per cent) and Punjab National Bank (down 1.2 per cent) are the top losers.
Broadly, the private banks are limiting the downside in the Nifty Bank index, which is due to the weakness in the public sector banks. While Nifty Private Bank is flat, Nifty PSU Bank is down 0.9 per cent.
Nifty Bank futures
The June expiry Nifty Bank futures began today’s session lower at 55,550 against last week’s close of 55,614. It is now trading at 55,675, up 0.1 per cent.
Nifty Bank futures (June) is now trading in the narrow range of 55,450-55,800. The contract ought to move out of this range in order to establish a trend.
A breakout of 55,800 can give Nifty Bank futures (June) some positive impetus, potentially lifting the contract to 56,250. A rally past this can lift the contract to 57,000.
On the other hand, if the support at 55,450 is breached, the downswing can extend to 55,000, a support. Subsequent support is at 54,500.
Overall, the path of the intraday trend depends on whether Nifty Bank futures (Jun) breach 55,450 or 55,800 first.
Trade strategy
Stay out for now. Buy Nifty Bank futures (June) if it breaks out of 55,800. Target and stop-loss can be 56,250 and 55,580 respectively.
But instead, if the contract breaches the support at 55,450, initiate a short position. Target and stop-loss can be 55,000 and 55,650 respectively.
Supports: 55,450 and 55,000
Resistances: 55,800 and 56,250
Published on June 16, 2025
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