Nifty Bank began today’s session with a gap-up at 55,635 compared to yesterday’s close of 55,400. The index is now trading at 55,900, up 0.9 per cent.

All 14 stocks in Nifty Bank index are on the green led by IndusInd Bank, up 3.4 per cent. This is followed by The Federal Bank, up 2.7 per cent, and IDFC First Bank, up 1.9 per cent.

Nifty Private Bank has advanced 0.75 per cent and Nifty PSU Bank is up 0.5 per cent. So, broadly, the private banks are outperforming the public sector peers.

Nifty bank futures

The May expiry Nifty Bank futures opened today’s session higher at 55,875 versus yesterday’s close of 55,745. It is now hovering around 56,200, up 0.8 per cent.

There is a resistance ahead at 56,300. If this level is breached, Nifty Bank futures can rise to 56,800 quickly. But if the contract falls off the barrier at 56,300, it can retest 55,600. A breach of this can intensify the sell-off, potentially dragging the contract to 55,000.

Overall, as it stands, there is a bullish bias but for the rally to sustain, Nifty Bank futures ought to surpass the hurdle at 56,300.

Trade strategy

Go long on Nifty Bank futures (May) if it breaks out of 56,300. Target and stop-loss can be 56,800 and 56,000 respectively. 

Supports: 55,600 and 55,000

Resistances: 56,300 and 56,800

Published on April 29, 2026