Nifty Bank began today’s session lower at 54,691 versus yesterday’s close of 54,879. It fell further after opening and is now trading at 54,550, down 0.6 per cent.

Except for the Federal Bank (up 0.15 per cent) and Punjab National Bank (up 0.1 per cent), all other stocks in the index are in the red. ICICI Bank (down 1.5 per cent) has lost the most followed by HDFC Bank (down 1 per cent).

Nifty Private Bank has lost 0.75 per cent whereas Nifty PSU Bank is down 0.25 per cent. So, broadly, the private banks are facing greater selling pressure than the public sector peers.

Nifty Bank futures

The May expiry Nifty Bank futures opened today’s session lower at 54,899 compared to last week’s close of 55,154. It extended the loss after opening and is now trading at 54,800, down 0.7 per cent.

The price action shows a bearish bias, and the likelihood is high for Nifty Bank futures to see further decline. It can drop to 54,200.

On the other hand, if Nifty Bank futures rises from the current level, it can face resistance at 55,000. Following barrier is at 55,300. Only a breakout of the latter will turn the outlook positive. In such a case, it can rise to 56,000. 

Trade strategy

Short Nifty Bank futures (May) now at 54,800. Target and stop-loss can be 54,200 and 55,100 respectively. 

Supports: 54,200 and 54,000

Resistances: 55,000 and 55,300

Published on May 5, 2026