Nifty Bank index began today’s session with a gap-up at 59,194 versus yesterday’s close of 58,800. It is now trading at 59,150, up 0.6 per cent.
The advance-decline ratio stands at 10-4, showing a bullish inclination. The Federal Bank (up 2.7 per cent) and IDFC First Bank (up 2.6 per cent) are the top performing stocks in Nifty Bank.
On the other hand, IndusInd Bank (down 0.8 per cent) is the top loser followed by AU Small Finance Bank (down 0.6 per cent).
Nifty PSU Bank has rallied nearly 2 per cent so far today whereas Nifty Private Bank is up 0.3 per cent. Therefore, broadly, the public sector banks are outperforming private peers.
Nifty Bank futures
The January expiry Nifty Bank futures opened today’s session higher at 59,160 versus yesterday’s close of 58,856. It is now trading at 59,250, up 0.7 per cent.
Since the beginning of today’s session, the volatility has been higher as the contract has been witnessing moves on both sides. That said, we expect Nifty Bank futures to trade with bullish bias today.
From the current level, the contract can rise to 60,000 in a day or two. On the other hand, if it declines, it can find support at 59,200 and 59,000. As long as the support at 59,000 holds, the bulls will have an advantage.
Trade strategy
Go long on Nifty Bank futures now at 59,250. Target and stop-loss can be 60,000 and 58,900 respectively.
Supports: 59,250 and 59,000
Resistances: 60,000 and 60,200
Published on January 22, 2026
