Nifty Bank began today’s session lower at 55,506 versus yesterday’s close of 55,704. I t fell after opening and is now trading at 55,450, down nearly 0.5 per cent.

The advance/decline ratio stands at 6/8. Bank of Baroda, up 1.2 per cent, is the top gainer followed by Canara Bank, up 0.8 per cent. On the other hand, HDFC Bank, down 1.4 per cent, and IndusInd Bank, down 1 per cent, are the top losers.

Nifty Private Bank is down 1 per cent, largely dragged by HDFC Bank. Whereas Nifty PSU Bank has lost 0.3 per cent. So, overall, the private banks are facing greater selling pressure compared with the public sector banks.

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session with a gap-down at 55,600 versus yesterday’s close of 55,928. It is now hovering around 55,600, down about 0.6 per cent.

The contract extending the decline after opening hints at the bears gaining traction. So long as the resistance at 55,800 is valid, the bias for intraday will be bearish.

We anticipate a resumption in the downtrend where Nifty Bank futures can decline to 55,000, a support.

On the other hand, if Nifty Bank futures rallies and breaks out of 55,800, it can extend the upswing to 56,000, a resistance. Subsequent barrier is at 56,250.

Trade strategy

Short Nifty Bank futures (April) now at 55,600. Target and stop-loss can be 55,000 and 55,900 respectively. 

Supports: 55,000 and 54,800

Resistances: 55,800 and 56,000

Published on April 9, 2026