Nifty Bank index has begun the week on a positive note. The index has risen back well after making a low of 56,356.55 in the early trades. It is currently trading at 56,790, up 0.4 per cent. The advances/declines ratio is at 6:8. This gives a slightly mixed picture. It indicates that the market could go either way.

Nifty Bank Outlook

Support is around 56,300 which has held very well during the day. The strong bounce from the low of 56,356 leaves the bias positive for the Nifty Bank index. As long as the index stays above 56,300, the outlook will be bullish to see 58,000 in the coming days.

Nifty Bank index has to fall below 56,300 to turn the outlook negative. If that happens, we can see a fall to 55,900-55,800 and even lower thereafter.

Nifty Bank Futures

The Nifty Bank April Futures (56,890), up 0.4 per cent. Good supports are at 56,450 and 56,350. Outlook is bullish. Intermediate resistance is at 57,000. A break above it can take the Nifty Bank April Futures contract higher to 57,800 and 58,200 in the coming sessions.

The contract has to break below 56,350 to turn the outlook negative. Such a break can drag the contract down to 55,800.

Trade strategy

Traders can go long on a break above 57,000. Keep the stop-loss at 56,740. Trail the stop-loss up to 57,150 as soon as the contract goes up to 57,320. Revise the stop-loss higher to 57,380 and 57,610 when the contract touches 57,470 and 57,710 respectively. Exit the long positions at 57,760.

Supports: 56,450, 56,350

Resistances: 57,000, 57,800

Published on April 20, 2026