Nifty Bank index opened today’s session at 54,654 compared to yesterday’s close of 54,636. It is currently hovering around 54,888, up 0.5 per cent.
The advance/decline ratio stands at 5/7, showing a slight bearish bias. Kotak Mahindra Bank (up 1.7 per cent) is the top gainer followed by ICICI Bank (up 1.1 per cent). At the other end of the spectrum, the decline is led by IDFC First Bank (down 1.1 per cent) and IndusInd Bank (down 0.5 per cent).
Nifty PSU Bank has lost nearly 0.2 per cent whereas Nifty Private Bank is up 0.6 per cent. Therefore, as of now, the private banks are outperforming the public sector peers.
Nifty Bank futures
The October futures of Nifty Bank index began today at 55,100 versus yesterday’s close of 55,012. It is currently trading at 55,200, up nearly 0.4 per cent.
The chart shows that the Nifty Bank futures has broken out of a resistance at 55,150. Thus, the price action now shows a bullish tilt.
From the current level, Nifty Bank futures is likely to rally to 55,500, a resistance. Subsequent resistance is at 55,750.
On the other hand, if the contract slips below the resistance-turned-support at 55,150, it can result in intraday trend reversal. A breach of 55,150 can drag the contract to 54,850.
Overall, the breakout of the hurdle at 55,150 has opened the door for further rally.
Trade strategy
Buy Nifty Bank futures (October) now at 55,200. Target and stop-loss can be at 55,500 and 55,050 respectively.
Supports: 55,150 and 54,850
Resistances: 55,500 and 55,750
Published on October 1, 2025
