Nifty Bank began today’s session with a huge gap-up at 54,904 versus yesterday’s close of 52,716. The index extended the gains after opening and is now trading at 55,200, up 4.7 per cent.

All 14 stocks in the index have advanced with Union Bank of India and IndusInd Bank, up 6 per cent each, being the top gainers. Index heavyweights like HDFC Bank, ICICI Bank and SBI have also gained over 4 per cent, providing an upward thrust.

Nifty PSU Bank is up 5 per cent whereas Nifty Private Bank has gained 4.4 per cent. Therefore, broadly, the public sector banks are outperforming their private peers.

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session significantly higher at 55,300 versus yesterday’s close of 52,873. It is now trading at 55,340, up 4.7 per cent.

Over the past few days, there price action has been hinting at some positivity building up on Nifty Bank futures. The gap-up open today has now tilted the sentiment in favour of the bulls.

There is a chance for the contract to see a decline to 55,000 from the current level of 55,340. But then, Nifty Bank futures can resume the rally, potentially moving to 56,000 before the end of this week.

In case the contract slips below the base at 55,000, the downswing can extend to 54,800. A drop below this level is unlikely.

Trade strategy

Buy Nifty Bank futures (April) if it moderates to 55,100. Target and stop-loss can be 56,000 and 54,680 respectively. Traders can consider carrying this trade overnight if neither target nor stop-loss level is triggered before the end of the day.

Supports: 55,000 and 54,800

Resistances: 56,000 and 56,200

Published on April 8, 2026