Nifty Bank index began today’s session with a gap up at 57,530 versus Friday’s close of 57,444. It slipped after opening and is currently hovering around 57,450. 

The advance/decline ratio stands at 8/4, a bullish indication. Bank of Baroda and Canara Bank, up 3 per cent each, are the top gainers.

On the other hand, Kotak Mahindra Bank (down 1.3 per cent) and HDFC Bank (down 0.6 per cent) are the top losers in Nifty Bank.

Nifty PSU Bank has shot up 2.4 per cent so far today whereas Nifty Private Bank is down 0.3 per cent. So, broadly, the public sector banks are outperforming their private peers. 

Nifty Bank futures 

The July expiry Nifty Bank futures began today’s session at 57,636 against Friday’s close of 57,648. It is now trading at 57,720, up 0.1 per cent.

The chart shows that the contract has a resistance at 57,800-58,000. On the back of this, Nifty Bank futures (July) might see a corrective decline, possibly to 57,250 and 57,000, notable support levels. Subsequent support is at 56,800.

On the other hand, if the contract breaks out of 58,000, it can extend the rally to 58,500 and 59,000 quickly. 

As it stands, the broader trend remains bullish but there is a chance for a corrective fall from the current level before the Nifty Bank futures (July) resume the uptrend.

Trade strategy

Risk averse traders can stay out. Those with higher risk appetite can short Nifty Bank futures (July) now at 57,720. Stop-loss can be 57,900 (which is just above today’s high of 57,850). Book profits at 57,250.

Supports: 57,250 and 57,000

Resistances: 57,800 and 58,000

Published on June 30, 2025