Nifty Bank index began today’s session slightly higher at 56,529 versus yesterday’s close of 56,496. It rose after opening and is currently at 56,570, up 0.15 per cent.
The advance/decline ratio stands at 8/4 showing a bullish bias. AU Small Finance Bank (up 3.1 per cent) and IDFC First Bank (up 1.2 per cent) are the top performers.
On the other hand, Axis Bank (down 1.1 per cent) and IndusInd Bank ( down 0.8 per cent) are the top losers.
While Nifty PSU Bank has gained 0.8 per cent so far today, Nifty Private Bank is down about 0.1 per cent. Therefore, the public sector banks are outperforming the private peers.
Nifty Bank futures
The October expiry Nifty Bank futures opened today’s session higher at 56,785 versus yesterday’s close of 56,716. It is now trading at 56,868, up 0.3 per cent.
While the trend has been bullish, the chart shows that the contract is now facing a resistance between 56,900 and 57,000. This price band has been preventing the bulls from lifting Nifty Bank futures higher since the beginning of this week.
Prolonged consolidation near this resistance band will increase the probability of a decline. A fall from the current level of 56,868 can drag Nifty Bank futures to 56,500 and 56,100.
But in case the contract regains traction and surpasses the hurdle at 57,000, it will open the door for a rally to 57,200, which can extend to 57,500.
Overall, the chart shows that the Nifty Bank futures retain the upward bias but is now facing a resistance. That said, there are no definite signs of a bearish reversal. Given these factors, we suggest staying in the long side of the trade.
Trade strategy
Yesterday, we suggested buying Nifty Bank futures (October) at 56,760. Retain this trade. But revise the stop-loss higher from 56,530 to 56,700. Book profits at 57,200.
Supports: 56,725 and 56,500
Resistances: 57,200 and 57,500
Published on October 15, 2025
