Nifty Bank index has come down below the key 56,000 mark again today. The index is trading at 55,861 down 0.7 per cent. The advances/declines ratio is at 4:8. This is negative for now.

Nifty Bank index outlook

Nifty Bank index has an intraday support at 55,800 which seems to be holding well for now. The index made an intraday low of 55,779 and then has risen back well from there. If the index manages to sustain above 55,800, there are good chances to see an intraday rise to 56,000-56,100 again. A decisive rise above 56,100 will then clear the way for a rise to 56,500 and higher levels during the week.

The index will come under pressure for more fall only if it gets a sustained break below 55,800. If that happens we can see a fall to 55,650 during the day.

Nifty Bank Futures

The Nifty Bank June Futures (55,974) is down about 0.6 per cent. Immediate support is at 55,790 which is holding well for now. If the contract breaks below this support, a fall to 55,650-55,630 can be seen during the day.

On the other hand, if the contract manages to sustain above 55,790, it can bounce back to 56,200 on a break above 56,000.

Overall, the intraday picture is unclear. The contract can go either way from here.

Trade Strategy

Since the intraday outlook is unclear, stay out of the market

Supports: 55,790, 55,650

Resistances: 56,000, 56,200

Published on June 23, 2025