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Nifty Bank index began today’s session with a gap-up at 60,163 versus yesterday’s close of 60,041. It is now hovering around 60,175, up 0.25 per cent.
The advance-decline ratio stands at 8-6, showing a positive bias. ICICI Bank (up 0.9 per cent) and Yes Bank (up 0.8 per cent) are the top gainers in the Nifty Bank index.
On the other hand, Kotak Mahindra Bank (down 0.8 per cent) and Canara Bank (down 0.7 per cent) are the top losers.
Nifty PSU Bank and Nifty Private Bank are up 0.1 per cent each.
Nifty Bank futures
The February expiry Nifty Bank futures opened today’s session lower at 60,180 versus yesterday’s close of 60,210. It is now trading at 60,340, up 0.2 per cent.
The contract has rebounded on the back of a trendline support at 60,100 today. Below this is another support at 60,000. On the back of these supports, Nifty Bank futures has seen a positive close in the first hour of today’s trade.
Therefore, the contract might see a rally from the current level, possibly to 61,000 soon. On the other hand, in case Nifty Bank futures breaches the support at 60,000, the fall might extend to 59,000.
Overall, the likelihood of a rally is higher at the current juncture and so, traders can consider going long.
Trade strategy
Buy Nifty Bank futures (February) now at 60,340. Target and stop-loss can be 61,000 and 60,030 respectively.
Supports: 60,100 and 60,000
Resistances: 61,000 and 61,250
Published on February 4, 2026
