Nifty Bank index began today with a minor gap-up at 59,073 versus yesterday’s close of 59,035. But it slipped after opening and is now at 58,940, down nearly 0.2 per cent.
Even as the index is down so far, the advance/decline ratio stands at 8/4, showing some positive bias. Canara Bank (up 2.1 per cent) is the top gainer followed by State Bank of India (up 1.5 per cent).
At the other end, ICICI Bank (down 1.4 per cent) is the top loser followed by IndusInd Bank (down 0.9 per cent).
Nifty PSU Bank has appreciated 1.15 per cent at the end of the first hour of today’s trade. Whereas Nifty Private Bank has dropped 0.3 per cent. So, broadly, the public sector banks are outperforming the private peers.
Nifty Bank futures
The December expiry Nifty Bank futures opened today’s session at 59,280 versus yesterday’s close of 59,289. It is now trading at 59,165, down 0.2 per cent.
The contract is now hovering around the support band of 59,150-59,000. This can prevent further decline.
A rebound on the back of this can resume the rally, which can lift Nifty Bank futures to 60,500, a resistance. Subsequent barrier is 61,000.
But if the contract breaches the support at 59,000, bears will gain upper hand over the bulls, leading to a deeper decline. Nearest notable support below 59,000 is at 58,250.
Trade strategy
Go long on Nifty Bank futures (December) at 59,150. Target and stop-loss can be 60,500 and 58,900 respectively. Consider retaining this trade for the next few sessions if neither target nor stop-loss is hit today.
Supports: 59,150 and 59,000
Resistances: 60,200 and 60,500
Published on December 17, 2025
