Nifty Bank Prediction Today – February 2, 2026: Nifty Bank futures: Displays bearish tilt but there is a support

Nifty Bank index began today’s session with a gap-down at 58,239 versus yesterday’s close of 58,417. It is now hovering around 58,250, down 0.25 per cent.

The advance-decline ratio stands at 3-11 showing a bearish bias. Kotak Mahindra Bank (up 0.7 per cent), HDFC Bank (up 0.65 per cent) and ICICI Bank (up 0.6 per cent) are the gainers.

On the other hand, Bank of Baroda (down 2.3 per cent) is the top loser followed by The Federal Bank (down 1.9 per cent).

Nifty PSU Bank is down 1.3 per cent whereas Nifty Private Bank is up 0.1 per cent. So overall, the private banks are outperforming the public sector peers.

Nifty Bank futures

The February expiry Nifty Bank futures opened today’s session lower at 58,611 versus yesterday’s close of 58,701. It is now trading at 58,540, down 0.3 per cent.

While the price action shows a bearish bias, the contract has a support ahead at 58,500 followed by another support at 58,100. But these might not help in a recovery as there are barriers ahead.

From the current level of 58,540, the nearest notable resistances are at 58,800 and 59,000. A rally beyond the latter is unlikely to occur today.

Given the above factors, the direction of intraday trend is uncertain.

Trade strategy

Refrain from trading. Nevertheless, traders with high risk tolerance can short Nifty Bank futures (February) if it rises to 58,750. Target and stop-loss can be 58,100 and 59,050.

Supports: 58,500 and 58,100

Resistances: 58,800 and 59,000

Published on February 2, 2026