Nifty Bank index has risen sharply in the early trades. It is trading strong at the psychological level of 60,000, up 0.5 per cent. The advances/declines ratio is at 13:1. This is positive.
Nifty Bank index outlook
Strong support is in the 59,850-59,750 region. The strong rise today indicates that the index is gaining momentum. A rise to 60,150-60,200 can be seen today. Eventually, we can expect the Nifty Bank index to target 61,000 in the short term.
The index has to fall below 59,750 to turn the intraday picture. If that happens, 59,500 can be tested on the downside.
Nifty Bank futures
The Nifty Bank January futures (60,270) is up 0.52 per cent. The contract has risen well above its resistance level of 60,150. The region between 60,150 and 60,100 will be a good intraday support. The contract can rise to 60,750-60,800 next week.
The region around 60,000 will be a crucial support for the contract now. The near-term picture will turn negative only if the contract breaks below 60,000. Such a break, though less likely, can drag the contract down to 59,700-59,500.
Trade strategy
Positional trades can be considered now. Traders can go long on dips at 60,220 and 60,180. Keep the stop-loss at 59,920. Trail the stop-loss up to 60,280 as soon as the contract goes up to 60,340. Revise the stop-loss higher to 60,350 and 60,480 when the contract touches 60,420 and 60,580 respectively. Exit the long positions at 60,750.
Supports: 60,100, 60,000
Resistances: 60,400, 60,800
Published on January 2, 2026
