Nifty Bank index began today’s session flat at 59,007 versus Friday’s close of 59,011. It slipped after opening and is currently at 58,870, down 0.25 per cent.
The advance/decline ratio stands at 2/10. The stocks in the green, Axis Bank and Bank of Baroda, are only marginally up and they do not show much strength.
AU Small Finance Bank (down 0.8 per cent) and Punjab National Bank (down 0.7 per cent) are the top losers.
Nifty PSU Bank has lost 0.3 per cent whereas Nifty Private Bank is up 0.15 per cent. So, broadly, the public sector banks are facing higher selling pressure compared to the private peers.
Nifty Bank futures
The December expiry Nifty Bank futures opened today’s session at 59,115 versus last week’s close of 59,066. It is now trading at 58,900, down 0.3 per cent.
The contract has now slipped below the support at 59,000. Also, the overall market conditions so far today give a bleak intraday picture.
So, the chances for Nifty Bank futures to decline further are high. From the current level, it might drop to 58,500. A breach of this can drag it to 58,250.
In case there is a recovery from the current level, the contract will face barriers at 59,000 and 59,150.
Trade strategy
Overall, the intraday outlook appears weak. So, traders can short Nifty Bank futures (December) now at 58,900. Target and stop-loss can be 58,500 and 59,150 respectively.
Supports: 58,500 and 58,250
Resistances: 59,000 and 59,150
Published on December 29, 2025
