Nifty Bank index is trading lower. It looks like the index is not getting a strong follow-through buying after witnessing a strong rise last week. Nifty Bank index is currently trading at 57,200, down 0.2 per cent. The advances/declines ratio is at 4:8. This is negative.
Nifty Bank outlook
Nifty Bank index (57,200) has an important support at 57,100 which can be tested during the day. A bounce from 57,100 and then subsequent rise above 57,300 will turn the near-term outlook bullish. If that happens, we can see a rise to 57,500-57,600 again.
But, if the Nifty Bank index breaks below 57,100, it can come under more selling pressure. Such break can drag the index down to 56,900-56,800.
We will have to watch the price action around 57,100 closely during the day.
Nifty Bank Futures
The Nifty Bank July Futures (57,433) is down 0.21 per cent. An immediate support is at 57,400. The contract has to sustain above it to avoid more fall. If it sustains above 57,400 a bounce to 57,600-57,650 can be seen during the day. That will give some relief. A further break above 57,650 will turn the outlook positive. It can then take the Nifty Bank July Futures contract up to 57,800-57,900.
But, if the contract declines below 57,400, it can come under pressure for a fall to 57,200. We will have to wait and watch.
Trade Strategy
Since the direction of next move depends on what happens to the support at 57,400, we suggest traders to stay out of the market.
Supports: 57,400, 57,200
Resistances: 57,650, 57,800
Published on July 1, 2025
