Nifty Bank index began today’s session slightly lower at 55,979 versus yesterday’s close of 56,018. It is now at 55,970, down 0.1 per cent so far today.
The advance/decline ratio stands at 7/5 showing a slight bullish bias. The Federal Bank, up 1.8 per cent, and IndusInd Bank, up 1.2 per cent, are the top gainers. On the other hand, HDFC Bank, down 0.7 per cent, and Axis Bank, down 0.5 per cent, are the top losers.
Nifty PSU Bank is up 0.1 per cent whereas Nifty Private Bank is down 0.2 per cent. So, broadly, the public sector banks are outperforming the private peers.
Nifty Bank futures
The October futures of Nifty Bank index began today’s session at 56,205 versus yesterday’s close of 56,218. It is currently trading at 56,215.
The contract has seen a correction. However, Nifty Bank futures has a notable support at 56,000. If it rebounds on the back of this, the contract can rally to 57,000 soon.
On the other hand, if Nifty Bank futures declines below the support at 56,000, it will open the door for a deeper fall to 55,800. Nevertheless, a move below 55,800 is unlikely as the broader uptrend remains intact.
Trade strategy
Yesterday, we suggested buying Nifty Bank futures (October) at an average price of 56,200. Retain this trade. Target and stop-loss can be 57,000 and 55,850 respectively. In case neither target nor stop-loss is triggered, traders can carry the trade for tomorrow.
Supports: 56,000 and 55,800
Resistances: 56,350 and 57,000
Published on October 9, 2025
