Nifty Bank began today’s session with a gap-up at 56,657 versus yesterday’s close of 56,302. It softened after opening and is now hovering around 56,550, up 0.5 per cent.

Barring Axis Bank and The Federal Bank (down 0.5 per cent each), all other stocks in Nifty Bank index have gained, showing a positive bias. IDFC First Bank, up 1.9 per cent, and YES Bank, up 1.7 per cent, are the toppers. 

Nifty PSU Bank has gained 0.4 per cent whereas Nifty Private Bank is up 0.3 per cent. Therefore, so far today, the public sector banks are marginally outperforming their private peers. 

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session higher at 56,755 versus yesterday’s close of 56,419. It is now hovering around 56,650, up 0.5 per cent.

Although the contract slipped after opening with a gap-up, it manages to stay above the support at 56,500. There’s another support near-by at 56,250. From an intraday trend perspective, as long as Nifty Bank futures remain above 56,500, the inclination will be bullish.

A resumption in the rally from the current level of 56,700 can lift the contract to 57,000. But in case the support at 56,500 is breached, Nifty Bank futures can fall to 56,250. A breakdown below this level can turn the outlook bearish, possibly dragging the contract to 56,000 and 55,800 quickly. 

That said, at the moment the bias is bullish since the support at 56,500 is valid. 

Trade strategy

Buy Nifty Bank futures (April) at 56,650. Target and stop-loss can be 57,000 and 56,450 respectively. 

Supports: 56,500 and 56,250

Resistances: 57,000 and 57,200

Published on April 16, 2026