Nifty Bank began today’s session with a gap-up at 54,938 compared to last week’s close of 54,863. The index rose further and is now trading at 55,340, up 0.8 per cent.

Barring Kotak Mahindra Bank (up 2.2 per cent), all other stocks in Nifty Bank are in the green. Bank of Baroda (up 2.5 per cent) and IndusInd Bank (up 1.9 per cent) are the top gainers.

Nifty PSU Bank has advanced 1.1 per cent whereas Nifty Private Bank is up 0.4 per cent. Therefore, broadly, the public sector banks are outperforming the private sector banks.

Nifty Bank futures

The May expiry Nifty Bank futures opened today’s session higher at 55,500 compared to last week’s close of 55,195. It extended the gain after opening and is now trading at 55,700, up 0.9 per cent. 

The price action appears bullish, and today’s gain adds strength to the rebound that happened on the back of 55,000 towards the end of last week.

From the current level, Nifty Bank futures can soon hit 56,250, a resistance. Subsequent barrier is at 56,700. 

On the other hand, if the contract slips from the current level of 55,700, it can find support at 55,300. So long as this support holds true, the contract will hold bullish inclination. 

Trade strategy

Buy Nifty Bank futures (May) at 55,700 and 55,400. Place stop-loss at 55,200. Book profits at 56,250. Consider carrying this trade to upcoming sessions until either target or stop-loss is triggered.

Supports: 55,300 and 55,000

Resistances: 56,250 and 56,700

Published on May 4, 2026