Nifty Bank index sustains higher but is stuck inside a narrow range. The index has been oscillating between 59,200 and 59,700. Within that, it is currently trading at 59,570, marginally down by 0.03 per cent.
Nifty Bank index outlook
The bias remains positive. The price action on the intraday chart indicates that the chances are high to get a bullish breakout above 59,700. Such a break can take the Nifty Bank index up to 60,050-60,100.
This bullish view will go wrong if the index declines below 59,200. If that happens, then 59,100 or 58,900 can be seen on the downside.
Nifty Bank Futures
The Nifty Bank February Futures (59,870) is marginally up by 0.02 per cent. Resistance is around 60,000 which can be tested during the day. But a strong break above 60,000 is needed to take the contract higher to 60,200-60,300.
Failure to breach 60,000 can 59,800 and even 59,500 again.
For now, 59,500-60,000 looks likely to be the range.
Trade Strategy
Since the contract is range bound now, we suggest traders to stay out of the market for now. Fresh long positions have to be considered only after a breakout above 60,000 happens.
Supports: 59,800, 59,500
Resistances: 60,000, 60,300
Published on January 29, 2026
