Nifty Bank index has begun the week on a strong note. The index has risen sharply in the early trades and is trading higher at 58,900, up 0.66 per cent. The advances/declines ratio is at 11:1. This is very positive.
Nifty Bank outlook
Intraday resistance is in the 59,050-59,100 region which can be tested during the day. The price action thereafter will need a close watch. Failure to breach 59,100 can drag the index down to 58,600 in the coming sessions.
A decisive break above 59,100 is needed to extend the upside towards 59,500 in the next few days.
We will have to wait and watch.
Nifty Bank Futures
The Nifty Bank November Futures (58,972) is up 0.56 per cent. Support is around 58,800-58,770. The contract has room to rise towards 59,200 or even 59,400. There are cluster of resistances in the 59,200-59,400 region. So, the chances are high for the contract to see a corrective dip to 59,000-58,800 from this resistance zone.
Trade Strategy
Traders can wait for dips. Go long at 58,880 and 58,820. Keep the stop-loss at 58,660. Trail the stop-loss up to 58,940 as soon as the contract goes up to 59,020. Revise the stop-loss up to 59,040 and 59,120 when the contract touches 59,090 and 59,160, respectively. Exit the long positions at 59,250.
Supports: 58,800, 58,700
Resistances: 59,200, 59,400
Published on November 17, 2025
