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Nifty Bank index has recovered most of the loss after witnessing a sharp fall in the early trades. The index touched a low of 57,157.85 and has risen back from there. It is currently trading at 57,484, down 0.12 per cent.
Nifty Bank outlook
Crucial resistance is in the 57,500-57,550 region. A strong rise above 57,550 is needed to turn the outlook bullish again. Only then a rise to 57,700-57,750 is possible again.
Failure to breach 57,550 and a reversal from there can continue to keep the contract under pressure. In that case, the downside will remain open to see 57,000-56,900.
The price action in the 57,500-57,550 region will need a very close watch.
Nifty Bank Futures
The Nifty Bank November Futures (57,790) broke the support at 57,600 but did not sustain. It fell to a low of 57,450 and has risen back sharply from there.
If this bounce sustains, there are good chances to see a rise to 58,000-58,100 in the coming sessions.
The contract will come under selling pressure again only if it declines below 57,500. If that happens, there is a danger of seeing 57,000 and even lower levels. But such a fall looks less likely. The sharp bounce seen today indicates the presence of strong buyers around 57,500.
Trade Strategy
Traders with high-risk appetite and those who can carry over the trade for next week can go long on dips at 57,720 and 57,620. Keep the stop-loss at 57,420. Trail the stop-loss up to 57,780 as soon as the contract goes up to 57,840. Revise the stop-loss up to 57,820 and 57,940 when the contract touches 57,880 and 57,990 respectively. Exit the long positions at 58,100.
Supports: 57,600, 57,500
Resistances: 57,900, 58,100
Published on November 7, 2025
