Nifty Bank index opened today’s session lower at 55,558 compared to Friday’s close of 55,618. It is currently trading at 55,580, down nearly 0.1 per cent.
The advance/decline ratio of Nifty Bank index is at 7/5. IndusInd Bank and Bank of Baroda, up 1.5 per cent each, are the top performers.
On the other hand, The Federal Bank (down 1.3 per cent) and HDFC Bank (down 0.7 per cent) are the top losers.
Nifty Private Bank is down 0.2 per cent whereas Nifty PSU Bank has gained 0.35 per cent. So, broadly, the public sector banks are outperforming their private peers.
Nifty Bank futures
The August expiry Nifty Bank futures began today’s session at 55,780 against Friday’s close of 55,794. It is now trading at 55,800.
The trend has been bearish in recent weeks. Now that Nifty Bank futures has seen a drop in the first hour of today’s session, the chances are high for further downside today.
The nearest support from the current level of 55,800 is at 55,500. A breach of this can trigger another leg of downtrend, which can drag the contract to 55,000.
On the other hand, if Nifty Bank futures recovers, it will face a barrier at 56,000. A decisive break out of this can turn the intraday outlook bullish. In that case, the contract can rise to 56,500.
That said, as it stands, the likelihood of a fall is high.
Trade strategy
Short Nifty Bank futures (Aug) now at 55,800. Target and stop-loss can be 55,500 and 56,000 respectively.
Supports: 55,500 and 55,000
Resistances: 56,000 and 56,500
Published on August 4, 2025
