Nifty Bank index began today’s session with a gap-down at 59,142 versus yesterday’s close of 59,404. It fell after opening and is now hovering around 58,950, down 0.8 per cent.
The advance-decline ratio stands at 4-10, showing a bearish inclination. Yes Bank (up 0.8 per cent) and Bank of Baroda (up 0.6 per cent) are the top performing stocks in Nifty Bank.
On the other hand, AU Small Finance Bank (down 2.4 per cent) is the top loser followed by ICICI Bank (down 2 per cent).
Nifty Private Bank is down 0.8 per cent so far and it is largely the weakness in the stocks of private banks that is weighing on the Nifty Bank. On the other hand, Nifty PSU Bank is flat.
Nifty Bank futures
The January expiry Nifty Bank futures opened today’s session lower at 59,459 versus yesterday’s close of 59,483. It is now trading at 59,050, down 0.7 per cent.
The contract has breached the support at 59,200, indicating considerable selling pressure. Given the prevailing conditions, Nifty Bank futures is likely to drop further.
The nearest support for the contract is at 58,700 followed by 58,500. On the other hand, the immediate resistance is at 59,200. Subsequent barrier is at 59,400.
We expect Nifty Bank futures to see a minor uptick from the current level of 59,050 to 59,250 and then witness the next leg of fall
Trade strategy
Short Nifty Bank futures now at 59,050 and 59,250. Target and stop-loss can be 58,700 and 59,400 respectively.
Supports: 58,700 and 58,500
Resistances: 59,200 and 59,400
Published on January 21, 2026
