Nifty Bank index began today’s session slightly lower at 56,169 versus yesterday’s close of 56,192. It is now at 56,600, up 0.7 per cent so far today.
The advance/decline ratio stands at 11/1 showing a strong bullish bias. Punjab National Bank, up 2.1 per cent, is the top gainer followed by State Bank of India, up 2 per cent.
On the other hand, A U Small Finance Bank is the only stock in the Nifty Bank index that is down and has lost about 0.1 per cent so far today.
Nifty PSU Bank is up 1.8 per cent whereas Nifty Private Bank has gained 0.9 per cent. So, broadly, the public sector banks are outperforming the private peers.
Nifty Bank futures
The October futures of Nifty Bank index began today’s session at 56,398 versus yesterday’s close of 56,413. It is currently trading at 56,825, up 0.7 per cent.
The price action shows that the contract has resumed the uptrend. Also, it has moved above the hurdle at 56,800. From the current level, Nifty Bank futures can rise to 57,000 soon. A breakout of this can lift it further to 57,200.
On the other hand, if the contract falls, it can find support at 56,800 and 56,500. That said, given the overall positive inclination, Nifty Bank futures is unlikely to slip below 56,600 today.
Trade strategy
Retain the longs on Nifty Bank futures (October) initiated at 56,200 a couple of sessions ago. But revise the stop-loss higher from 55,850 to 56,500. Book profits at 57,000.
Supports: 56,800 and 56,500
Resistances: 57,000 and 57,200
Published on October 10, 2025
