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Nifty Bank index began today’s session higher at 57,140 versus yesterday’s close of 56,800. It is currently hovering around 57,000, up 0.35 per cent.
The advance/decline ratio stands at 8/4 showing a bullish bias. Axis Bank (up 2.6 per cent) and AU Small Finance Bank (up 0.6 per cent) are the top performers.
On the other hand, IDFC First Bank (down 1.1 per cent) and The Federal Bank ( down 0.6 per cent) are the top losers.
Nifty PSU Bank has gained a marginal 0.1 per cent so far today whereas Nifty Private Bank is up 0.7 per cent. Therefore, the private banks are outperforming the public sector peers.
Nifty Bank futures
The October expiry Nifty Bank futures opened today’s session higher at 57,250 versus yesterday’s close of 56,987. It is now trading at 57,200, up about 0.4 per cent.
The trend has been bullish and now, the contract has crossed over the 57,000-mark, a positive indication. While the likelihood of further upside from the current level is high, we might see a minor correction, possibly to 57,000, before the next uptick.
Once the uptrend resumes, Nifty Bank futures can rise to 57,500. However, if the contract falls below 57,000, it might extend the downswing to 56,850. Given the broader positive sentiment, a decline below 56,800 is unlikely.
So, overall, we expect Nifty Bank futures to see a drop and then restart the upward movement.
Trade strategy
Buy Nifty Bank futures (October) now at 57,200 and buy on a dip to 57,000. Target and stop-loss can be 57,500 and 56,850 respectively.
Supports: 57,000 and 56,850
Resistances: 57,500 and 57,800
Published on October 16, 2025
