Nifty Bank index began today’s session with a gap-down at 58,152 versus yesterday’s close of 58,385. It is now hovering around 58,300, down nearly 0.2 per cent.
The advance/decline ratio stands at 5/7, indicating a slight bearish bias. Bank of Baroda (up 0.7 per cent) and The Federal Bank (up 0.5 per cent) are the top gainers.
On the other hand, Axis Bank (down 0.75 per cent) and IndusInd Bank (down 0.6 per cent) are the top losers in the Nifty Bank index.
Nifty PSU Bank is up 0.2 per cent so far today whereas Nifty Private Bank has lost about 0.4 per cent. Thus, the public sector banks are outperforming the private peers.
Nifty Bank futures
The November expiry Nifty Bank futures opened today’s session lower at 58,600 versus previous close of 58,766. It is now trading at 58,550, down 0.3 per cent.
The contract has a trendline support at 58,500. Below this is another support at 58,400 thereby making the price band of 58,400-58,500 a good base for intraday. If there is a rebound from these levels, it can break out of the hurdle at 58,850 and touch 59,000.
On the other hand, if Nifty Bank futures slips below the support at 58,400, it can extend the decline to 58,150. Subsequent support is 57,900.
Overall, the contract can establish the next leg of trend only after it breaches either 58,400 or 58,850. Until then, traders can refrain from initiating fresh trade.
Trade strategy
While we suggest staying out for now, traders with high-risk appetite can go long on Nifty Bank futures (November) now at 58,550. Target and stop-loss can be 58,950 and 58,350 respectively.
Supports: 58,500 and 58,400
Resistances: 58,850 and 59,000
Published on October 30, 2025
