Nifty Bank index began today’s session with a gap-up at 61,392 against yesterday’s close of 61,264. However, it moderated after opening and is now trading at 61,220, down by a marginal 0.1 per cent so far.
The advance-decline ratio stands at 7-7 now. Union Bank of India (up 1.1 per cent) and Punjab National Bank (up 0.8 per cent) are the top gainers.
At the other end, Bank of Baroda (down 0.9 per cent) and ICICI Bank (down 0.35 per cent) are the top losers.
Nifty PSU Bank has risen 0.25 per cent so far today whereas Nifty Private Bank has slipped 0.1 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 lower at 61,110 versus yesterday’s close of 61,238. It is now trading at 61,230.
The chart shows that the contract is now held within the narrow range of 61,000-61,375 as the bulls and the bears fight it out. Hence, at the moment, the direction of intraday trend depends on the breach of this price band.
A breakout of 61,375 can lift the contract to 61,700 whereas a breach of support at 61,000 can drag the contract to 60,600.
Traders should note that the February contracts expire today and there could be higher than usual volatility.
Trade strategy
Stay out for now. Buy Nifty Bank futures (February) with a stop loss at 61,200 if it breaks out of 61,375. Book profits at 61,700.
But in case the contract breaks down below 61,000, go short with a stop-loss at 61,250 for a target of 60,600.
Supports: 61,000 and 60,600
Resistances: 61,375 and 61,750
Published on February 24, 2026
