Nifty Bank index began today’s session with a gap-up at 51,434 versus Monday’s close of 50,275. The index moderated after opening and is now hovering around 51,250, up 2 per cent.

All 14 stocks constituting the index have gained so far. Top performing stocks in Nifty Bank are Punjab National Bank (up 3.2 per cent) and Canara Bank (up 3 per cent).

Within the banking space, the public sector banks are outperforming the private peers. Hence, Nifty PSU Bank is up 2.7 per cent whereas Nifty Private Bank is up 1.7 per cent. 

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session higher at 51,434 versus the previous close of 50,275. It is now trading at 51,234, up nearly  2 per cent.

While the contract has declined after seeing a positive open, there is a support ahead at 51,400, which can arrest the decline. But for Nifty Bank futures to see an intraday rally, it should break out of the hurdle at 52,000.

A rally past 52,000 can open the door for an upswing to 52,800 and 53,000. However, a breach of the base at 51,400 can strengthen the bears, potentially leading to a fall to 50,800.

From a trading perspective, traders can wait for the breach of either 52,000 or 51,400 before initiating a trade.

Trade strategy

Short Nifty Bank futures (April) if it falls below 51,400. Target and stop-loss can be 50,800 and 51,720 respectively.

However, if the contract recovers and breaks out of 52,000, buy with a stop-loss at 51,700 for a target of 52,800.

Supports: 51,400 and 50,800

Resistances: 52,000 and 52,800

Published on April 1, 2026