Nifty Bank began today’s session with a gap-up at 55,182 versus yesterday’s close of 54,822. It extended the gain after opening and is now trading at 55,830, up 1.8 per cent.

All 14 stocks in the index are in the green led by ICICI Bank, up 2.9 per cent. This is followed by Axis Bank, up 2.6 per cent, and IndusInd Bank, up 2 per cent.

Barring Nifty IT (down 2.7 per cent), Nifty Pharma and Nifty Healthcare index (down 0.4 per cent each), all other sectors have gained. Nifty Media (up 2.4 per cent) and Nifty Realty (up 2.3 per cent) are the top performers. 

Within banking, Nifty Private Bank has advanced 2 per cent whereas Nifty PSU Bank is up 1.4 per cent. Therefore, the private banks are outperforming the public sector banks. 

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session higher at 55,226 versus yesterday’s close of 55,080. It is now hovering around 55,950, up 1.6 per cent.

The contract, after opening with gap-up, ended the first hour of today’s trade on a strong note. The chart indicates good buying interest.

Therefore, although there is a resistance at 56,000, we anticipate a breakout soon. Once Nifty Bank futures surpasses 56,000, it can rise to 56,500 quickly. 

On the other hand, if there is a decline, the contract can find support at 55,400. A clear breach of this can turn the outlook bearish, potentially dragging Nifty Bank futures to 54,900.

Overall, as it stands, the likelihood of a rally is high. 

Trade strategy

Buy Nifty Bank futures (April) now at 55,800. Target and stop-loss can be 56,500 and 55,400 respectively.

Supports: 55,400 and 54,900

Resistances: 56,000 and 56,500

Published on April 10, 2026