The Nifty Bank index began today’s session with a gap-up at 55,835 versus last week’s close of 55,589. It moved up further after opening and is currently hovering around 55,950, up nearly 0.7 per cent.
The advances/ declines ratio stands at 11/1, showing a strong bullish inclination. Federal Bank, down by a marginal 0.1 per cent, is the only stock in Nifty Bank that is down so far today.
Bank of Baroda and Kotak Mahindra Bank, up 1.5 per cent each, are the top performers. This is followed by AU Small Finance Bank, up 1.3 per cent.
Nifty Private Bank gained about 0.8 per cent, whereas Nifty PSU Bank is up 0.3 per cent. Therefore, broadly, the private banks are outperforming their public sector peers.
Nifty Bank futures
The October futures of the Nifty Bank index began today’s session higher at 55,951 versus last week’s close of 55,854. It is currently trading at 56,150, up nearly 0.6 per cent.
The contract has a resistance ahead at 56,250. While this is unlikely to alter the current uptrend, Nifty Bank futures might face some slowdown in momentum.
From the current level, Nifty Bank futures can rally to 56,250 and then face a consolidation or a minor correction, potentially to 56,100. But then, the contract can regain traction and move up to 56,500 soon.
Only a break below the support at 56,000 can turn the intraday outlook bearish. As it stands, the probability for such a breach is low.
Trade strategy
Buy Nifty Bank futures (October) now at 56,150. Target and stop-loss can be 56,500 and 55,980 respectively.
Supports: 56,000 and 55,800
Resistances: 56,250 and 56,500
Published on October 6, 2025
