Nifty Bank Index Begue the session of today slightly higher at 55,234 versus yesterday’s closure of 55,201. It declined after opening and is currently quoted at 54,800, 0.7 percent less.
The anticipation/decrease ratio is located in 2/10, which shows a bearish bias. HDFC Bank and Icici Bank, more at 0.1 percent marginal each, are the only winners in the index.
On the other hand, the Axis Bank (3.3 percent) and the National Punjab Bank (2 percent less) are the main losers so far.
Nifty Psu Bank has lost 1.7 percent, while Nifty Private Bank has dropped approximately 1.2 percent. Then, in general terms, public sector banks face greater sales pressure than their private peers.
Nifty Bank Futures
Nifty Bank Futures (May) opened the highest session at 55,355 against the closing of yesterday or 55,326. Now it quotes around 54,900, almost 0.8 percent.
Althegh, the broader trend is optimistic, the price action suggests that it could be an importance from the current level.
The closest support of the current level of 54,900 can be seen at 54,550 with the subim to 53,750. The contract is likely to resume the demonstration after falling to 53,750.
On the other hand, if Nifty Bank Futures resume the current level of 54,900 by itself, it can move up to 56,000, a remarkable resistance. A violation of this can raise the contract to 56,200.
As is, Nifty Bank Futures seems to witness a decrease followed by the resumption of rebound.
Commercial strategy
Nifty Bank shorts at 54,900. The objective and loss of detention can be 53,750 and 55,200 respectively.
Support: 54,550 and 53,750
Resistances: 56,000 and 56,200
Posted on April 25, 2025
