Nifty Bank index began today’s session higher at 56,994 versus yesterday’s close of 56,840. However, it slipped after opening and is currently hovering around 56,750, down 0.15 per cent.

The advance/decline ratio stands at 5/7, which gives the index a slight bearish bias. IndusInd Bank (up 2 per cent) and Kotak Mahindra Bank (up 1.4 per cent) are the top gainers.

On the other hand, IDFC First Bank (down 1.1 per cent) and ICICI Bank (down 0.8 per cent) are the top losers.

While Nifty Private Bank is trading flat, Nifty PSU Bank has lost about 0.3 per cent and is the weakest sectoral index so far today.

So, broadly, within the banking space, the private banks are outperforming their private peers.

Nifty Bank futures 

The June expiry Nifty Bank futures began today’s session at 57,026 against yesterday’s close of 56,999. It is now trading at 56,930, down 0.15 per cent.

Following the breakout of 56,250 last week, the contract has set itself up for another leg of rally. The moderation seen so far today is likely to be temporary.

We expect Nifty Bank futures (Jun) to begin the rally soon. On the upside, it can touch 58,000 in the near-term. 

On the downside, the decline is expected to be arrested at 56,700, a potential support. Subsequent support can be spotted at 56,300.

Trade strategy

Buy Nifty Bank futures now at 56,930 and on a dip to 56,700. Target and stop-loss can be 58,000 and 56,400 respectively.

Supports: 56,700 and 56,300

Resistances: 58,000 and 58,500

Published on June 10, 2025