Nifty Bank Prediction Today – January 16, 2026: Nifty Bank futures: Rally can extend, consider buying

Nifty Bank index began today’s session flat at 59,590 versus Wednesday’s close of 59,580. It rallied after opening and is now hovering around 60,120, up 0.9 per cent.

The advance-decline ratio stands at 12-2, showing a considerable bullish inclination. The Federal Bank (up 4 per cent) and AU Small Finance Bank (up 3.4 per cent) are the top gainers.

Union Bank of India (down 0.5 per cent) and Axis Bank (down 0.15 per cent) are the only losers in the index so far.

Nifty PSU Bank has gained 1.5 per cent whereas Nifty Private Bank is up 0.7 per cent. So, broadly, the public sector banks are outperforming the private peers and are pushing the Nifty Bank index up.

Nifty Bank futures

The January expiry Nifty Bank futures opened today’s session higher at 59,833 versus previous close of 59,781. It is now trading at 60,180, up 0.7 per cent.

Surpassing the hurdle at 60,000 is a positive sign. From the current level, there might be a minor dip to retest the resistance-turned-support of 60,000. Post this, the contract is likely to resume the uptrend and touch 60,500 soon.

On the other hand, Nifty Bank futures slip below 60,000, the downswing can extend to 59,800. A fall below 59,800 can turn the near term outlook weak.

However, as it stands, the price action shows that the bulls have gathered good momentum and the contract is set to rise to 60,500.

Trade strategy

Buy Nifty Bank futures (January) now at 60,180 and at 60,000. Target and stop-loss can be 60,500 and 59,800, respectively.

Supports: 60,000 and 59,800

Resistances: 60,500 and 60,800

Published on January 16, 2026