Nifty Bank index opened today’s session higher at 55,609 compared to yesterday’s close of 55,521. But it fell after opening and is currently trading at 55,250, down nearly 0.5 per cent.
Except AU Small Finance Bank (up 1.6 per cent), all other stocks in the index are in the red led by IndusInd Bank and Axis Bank, down 1.7 per cent and 1.3 per cent respectively.
Nifty Private Bank is down 0.6 per cent whereas Nifty PSU Bank has lost 0.4 per cent. Therefore, the private banks are facing comparatively higher selling pressure than their public sector peers.
Nifty Bank futures
The August Nifty Bank futures began today’s trade higher at 55,800 versus yesterday’s close of 55,758. It is now trading at 55,400, down 0.6 per cent.
The price action shows a bearish bias. The nearest support is at 55,000 and we expect Nifty Bank futures to drop to this level. A breach of 55,000 can trigger another downswing to 54,500.
On the other hand, if the contract rallies, it will face a barrier at 55,800. A clear breakout of this can lead to the extension of the uptrend to 56,500.
That said, the chart indicates that the probability of a fall is high.
Trade strategy
Short Nifty Bank futures (Aug) now at 55,400 and on a rise to 55,650. Place stop-loss at 55,800. Book profits at 55,000.
Supports: 55,000 and 54,500
Resistances: 55,800 and 56,500
Published on August 8, 2025
