Nifty Bank index has been stuck between 57,150 and 57,630 since the beginning of this week. Within this range, the index is now trading near the lower end at 57,235, down 0.39 per cent.
Nifty Bank outlook
As mentioned above 57,150-57,630 is the trading range now. A breakout on either side of this range will decide the next move.
A break below 57,150 will be bearish. It can then drag the Nifty Bank index down to 56,850. On the other hand, a strong break above 57,630 can boost the bullish momentum. It can then clear the way for a rise to 58,500.
We will have to wait and watch.
Nifty Bank Futures
The Nifty Bank July Futures (57,482) is down 0.36 per cent. There is room for a fall to 57,300-57,250 in the coming sessions. But thereafter we can expect the contract to reverse higher and go back up to 57,700-57,800.
In case the contract declines below 57,250, it can see 56,950 on the downside.
Trade Strategy
The risk/reward ratio does not favour taking a short position. So, we suggest traders to wait for dips and go long at 57,320 and 57,280. Keep the stop-loss at 57,220. Trail the stop-loss up to 57,360 as soon as the contract goes up to 57,390. Move the stop-loss further up to 57,410 when the contract touches 57,440. Exit the long positions at 57,480.
Supports: 57,250, 56,950
Resistances: 57,600, 57,800
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Published on July 2, 2025
