Nifty Bank index began today’s session lower at 61,146 compared to last week’s close of 61,172. However, it recovered after opening and is now trading at 61,320, up 0.25 per cent so far.
The advance-decline ratio stands at 10-4 now, showing a bullish bias. Union Bank of India (up 2.7 per cent) and Axis Bank (up 2.4 per cent) are the top gainers.
At the other end, IDFC First Bank tumbled 17 per cent and is the top loser. This is followed by AU Small Finance Bank, down 6.4 per cent.
Nifty PSU Bank has advanced 1.7 per cent whereas Nifty Private Bank is up about 0.5 per cent. Therefore, the public sector banks are outperforming their private peers.
Nifty Bank futures
The February expiry Nifty Bank futures opened today’s session higher at 61,266 versus Friday’s close of 61,179. It is now trading at 61,300, up 0.2 per cent.
The chart shows that Nifty Bank futures has a support at 61,000 and so long as this holds true, the bullish inclination will prevail. We expect the contract to reach 61,600.
On the other hand, if the support at 61,000 is breached, the near-term outlook can turn bearish where Nifty Bank futures might drop to 60,600, a support where a trendline coincides, making it a good base.
Overall, given the prevailing price action, Nifty Bank futures can rise to 61,600, either from the current level of 61,300 itself or after a dip to 61,100.
Trade strategy
Buy Nifty Bank futures (February) at 61,200 and 61,050. Place stop-loss at 60,900. Book profits at 61,600.
Supports: 61,000 and 60,600
Resistances: 61,600 and 61,800
Published on February 23, 2026
