Nifty Bank began today’s session with a gap-down at 54,881 compared to yesterday’s close of 55,403. The index fell further after opening and is now trading at 54,500, down 1.6 per cent.

All 14 stocks in Nifty Bank index are down today, showing a strong downward bias. Bank of Baroda, down 2.7 per cent, is the top loser followed by Punjab National Bank, Axis Bank and Union Bank of India, down 2.6 per cent each.

Nifty Private Bank is down 1.5 per cent whereas Nifty PSU Bank has lost 2.4 per cent and is the weakest sectoral index so far today.

Nifty Bank futures

The May expiry Nifty Bank futures opened today’s session considerably lower at 55,100 versus yesterday’s close of 55,614. It is now hovering around 54,730, down 1.6 per cent.

The contract has now fallen below the support at 55,000, a bearish sign. Only a clear breakout of this can turn the trend positive, which is unlikely to happen.

We expect Nifty Bank futures to extend the downswing, possibly to 54,200. A breach of this can extend the fall to 54,000.

On the other hand, if there is a recovery beyond 55,000, the uptrend can extend to 55,500. However, as mentioned earlier, the likelihood of a decline is high.

Trade strategy

Short Nifty Bank futures (May) if it breaks out of 54,800. Target and stop-loss can be 54,400 and 55,000 respectively.

Supports: 54,200 and 54,000

Resistances: 55,000 and 55,500

Published on April 30, 2026