Nifty Bank opened today’s session slightly higher at 53,154 versus yesterday’s close of 53,118. It is now hovering around 53,450, up 0.7 per cent.

The advance/decline ratio stands at 6/6. ICICI Bank (up 1.8 per cent) is the top gainer whereas IDFC First Bank (down 0.5 per cent) is the top loser.

Nifty Private Bank has advanced about 0.4 per cent whereas Nifty PSU Bank is up 0.25 per cent. So, broadly, the private sector banks are doing well so far today.

Nifty Bank futures

Nifty Bank futures (April) began today’s session at 53,096 against yesterday’s close of 53,083. It is now trading around 53,400, up 0.6 per cent.

The price action shows that the prevailing uptrend is strong and steady. The contract will most likely extend the upswing to 54,000 and 54,200, the nearest potential barriers.

In case there is a decline from the current level of 53,400, Nifty Bank futures can find support at 53,000 and 52,750.

So long as the contract stays above the support at 52,300, the broader bias will be bullish and any dips can be seen as an opportunity to go long.

Trading strategy

For intraday, buy Nifty Bank futures if it dips to 53,250. Target and stop-loss can be 53,800 and 53,000 respectively.

Supports: 53,000 and 52,750

Resistance: 54,000 and 54,200

Published on April 17, 2025