Nifty Bank began today’s session with a gap-down at 56,609 compared to yesterday’s close of 57,124. It moved up after opening and the index is now trading at 56,666, down 0.8 per cent.

The advance/decline ratio of Nifty Bank now stands at 2/12 showing a bearish bias. AU Small Finance Bank (up 0.8 per cent) and Yes Bank (up 0.1 per cent) are the only gainers.

On the other hand, Union Bank of India (down 1.9 per cent) and Kotak Mahindra Bank (down 1.7 per cent) are the top losers.

Nifty PSU Bank is down 0.8 per cent whereas Nifty Private Bank has lost 0.7 per cent. Therefore, broadly, the public sector banks are facing relatively higher selling pressure than the private banks.

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session lower at 56,750 versus yesterday’s close of 57,147. It is now hovering around 56,650, down 0.9 per cent.

The contract has stabilized after the gap-down open. Nevertheless, unlike Nifty futures, which is now hovering near a support, Nifty Bank futures has its immediate support at 56,000. Hence, it could drop to this level before a recovery, if there is any.

A rebound from 56,000 can lift the contract to 57,500. However, if the base at 56,000 is breached, Nifty Bank futures can decline further to 55,000.

We expect Nifty Bank futures to drop to 56,000 and then see a rise to 57,500. But this uptick might take a couple of sessions to happen.

Trade strategy

Stay out for now. Buy Nifty Bank futures (April) at 56,100. Target and stop-loss can be 57,500 and 55,700 respectively.

Supports: 56,000 and 55,800

Resistances: 57,500 and 58,000

Published on April 23, 2026