Nifty Bank began today’s session with a gap-down at 56,170 compared to yesterday’s close of 56,305. It fell after opening and the index is now trading at 55,975, down 0.6 per cent.

The advance/decline ratio of Nifty Bank now stands at 3/11 showing a bearish bias. AU Small Finance Bank (up 0.4 per cent) and IDFC First Bank and The Federal Bank, up 0.2 per cent each, are the only stocks in the green.

Union Bank of India (down 2 per cent) and Bank of Baroda (down 1.3 per cent) are the top losers. 

Within banking space, Nifty PSU Bank has lost 1 per cent whereas Nifty Private Bank is down 0.8 per cent. Therefore, the public sector banks seem to be facing greater selling pressure than the private banks.

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session higher at 56,401 versus yesterday’s close of 56,344. It is now hovering around 56,000, down 0.6 per cent.

The contract has seen selling in the first hour of today’s trade. The chart shows the growing influence of bears and so, the probability of further decline is high.

From the current level, the nearest support can be seen at 55,500. Subsequent support is at 55,200.

On the other hand, if Nifty Bank futures recovers from the current level, it will face a strong barrier at 56,500. A breakout of this can turn the intraday outlook positive, potentially lifting the contract to 57,000.

Nevertheless, as it stands, the bears are gaining strength and are expected to drag Nifty Bank futures further lower today. 

Trade strategy

Short Nifty Bank futures (April) at 56,080. Target and stop-loss can be 55,500 and 56,300 respectively.

Supports: 55,500 and 55,200

Resistances: 56,500 and 57,000

Published on April 24, 2026