Nifty Bank index began today’s session with a gap-up at 54,649 versus yesterday’s close of 54,413. However, it fell after opening and is now hovering around 54,300, down 0.15 per cent.

The advance/decline ratio stands at 4/10, showing a bearish bias. ICICI Bank (up 0.9 per cent) is the top gainer followed by Yes Bank (up 0.3 per cent). On the other hand, The Federal Bank (down 1.4 per cent) and IndusInd Bank (down 1.3 per cent) are the top losers.

Nifty PSU Bank has lost 0.7 per cent so far today whereas Nifty Private Bank is flat. Therefore, the public sector banks are facing greater selling pressure compared to the private banks.

Nifty Bank futures

The March expiry Nifty Bank futures opened today’s session higher at 54,604 versus yesterday’s close of 54,557. It is now trading at 54,500, down 0.1 per cent.

While the contract rallied yesterday, it is now facing a resistance at 54,800.

If the bulls can lift Nifty Bank futures above 54,800, the upswing can extend to 56,000. But if the bears gain back control, the contract can resume the downtrend, where it is likely to fall to 53,500, a support. Subsequent support is at 53,000.

Overall, the broader downtrend remains true, and Nifty Bank futures is now hovering near a resistance. Hence, the likelihood of a fall is higher than a rally. Nevertheless, traders can wait for confirmation to take trades. Below is our recommendation.

Trade strategy

For intraday positions, traders can wait for Nifty Bank futures to breach either 54,800 or 54,200.

Go long if Nifty Bank futures breaks out of 54,800. Target and stop-loss can be 55,800 and 54,500 respectively.

But instead, if the contract slips below the support at 54,200, go short with a stop-loss at 54,500 for a target of 53,600.

Supports: 53,500 and 53,000

Resistances: 54,500 and 55,000

Published on March 17, 2026