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Nifty Bank index has come down giving back some of the gains after opening the day with a wide gap-up. The index opened at the day’s high of 60,876.20 and did not get any follow-through rise. It is now trading at 60,640, up 0.86 per cent. The advances/declines ratio is at 10:4. This is positive for now and has to sustain to prevent the index from falling further during the day.
Nifty Bank index outlook
Intraday resistance is around 60,850 which is holding well for now. As long as the index stays below this support, there is a danger of seeing 60,500-60,400 and even lower levels during the day.
A sustained rise above 60,850 is needed to strengthen the bullish case for a rise to 61,500. We will have to wait and watch what happens.
Nifty Bank Futures
The Nifty Bank February Futures (60,760) is up 0.84 per cent. It has recovered well from the day’s low of 60,513. The contract is showing some strength unlike the underlying which looks mixed.
Good support is around 60,500. The outlook is bullish to see a rise to 61,500 and even higher in the coming sessions.
The Nifty Bank February Futures contract has to break 60,500 to turn the near-term picture negative. Such a break can drag it down to 60,300 and lower.
Trade Strategy
We expect the contract to sustain above 60,500. Positional trades can be considered at the moment. Go long now at 60,760. Accumulate on dips at 60,670 and 60,580. Keep the stop-loss at 60,380. Trail the stop-loss up to 60,840 as soon as the contract goes up to 60,910. Revise the stop-loss higher to 61,050 and 61,220 when the contract touches 60,180 and 60,340 respectively. Exit the long positions at 61,460.
Please note that this is a positional trade with a time frame of one-two weeks.
Supports: 60,650, 60,500
Resistances: 61,600, 62,000
Published on February 9, 2026
