Nifty Bank index has been slightly volatile in the early trades today. The index touched a high of 57,400.25 and has come down sharply failing to sustain higher. It is currently trading at 57,095, down 0.5 per cent. The advances/declines ratio is 8:6. This keeps the bias positive.

Nifty Bank outlook

Support is in the 56,850-56,800 region. The index can fall to test this support zone during the day. However, we cane expect the Nifty Bank index to reverse higher again anywhere from this support zone. That leg of rise can take the Nifty Bank index up to 57,700 again.

The near-term outlook will turn bearish only if the index breaks below 56,800. Such a break can drag the index down to 56,300-56,200 thereafter.

Nifty Bank futures

The Nifty Bank April futures (57,088) is down 0.5 per cent. The contract has supports at 56,890 and 56,740 which can be tested during the day. A bounce from either of these supports can then take the Nifty Bank index April futures contract up to 57,500 initially and then to 57,800 eventually.

The contract will come under pressure for a fall to 56,250 only if it breaks below 56,740.

Trade strategy

Traders can go long on dips at 56,950 and 56,820. Keep the stop-loss at 56,580. Trail the stop-loss up to 57,080 as soon as the contract goes up to 57,180. Revise the stop-loss higher to 57,310 and 57,510 when the contract touches 57,440 and 57,590 respectively. Exit the long positions at 57,680.

Supports: 56,950, 56,840

Resistances: 57,300, 57,500

Published on April 22, 2026