Nifty Bank index began today’s session with a gap-up at 58,316 versus previous close of 58,214. But it slipped after opening and is currently hovering around 58,180.
The advance/decline ratio stands at 6/6. Punjab National Bank (up 0.9 per cent) and State bank of India (up 0.75 per cent) are the top gainers.
On the other hand, IDFC First Bank (down 0.6 per cent) and The Federal Bank (down 0.5 per cent) are the top losers in the Nifty Bank index.
While Nifty PSU Bank is up 0.2 per cent so far today, Nifty Private Bank is trading flat. Thus, the public sector banks are outperforming the private peers.
Nifty Bank futures
The November expiry Nifty Bank futures opened today’s session higher at 58,620 versus previous close of 58,519. It is now trading at 58,620, up 0.2 per cent.
The contract has now moved above the hurdle at 58,550. Moreover, the broader trend is up. Therefore, the prevailing price action indicates that the chances of a rally are high.
From the current level of 58,620, Nifty Bank futures can rise to 58,850 soon. A breakout of this can open the door for a rally to 59,500.
On the other hand, if the contract slips below the support at 58,450, the downswing can extend to 58,150.
Broadly, the chart suggests positive inclination. Nevertheless, traders can wait for Nifty Bank futures to surpass 58,650 before buying.
Trade strategy
For intraday, go long on Nifty Bank futures (November) when it surpasses 58,650. Target and stop-loss can be 58,850 and 58,550 respectively.
Supports: 58,450 and 58,150
Resistances: 58,650 and 58,850
Published on October 29, 2025
