Nifty Bank index began today’s session with a gap-down at 56,790 versus yesterday’s close of 56,951. It fell after opening and is now hovering around 56,400, down 1 per cent so far today.

Barring AU Small Finance Bank (up 0.4 per cent), the remaining 13 stocks in Nifty Bank are in the red. Axis Bank, down 2.2 per cent, and HDFC Bank, down 1.3 per cent, are the top losers.

Among the sectors, Nifty Media, Nifty Metal and Nifty Pharma, up 0.9 per cent each, are the gainers. On the other hand, Nifty Private Bank, down 1.3 per cent, and Nifty Auto, down 1.1 per cent, are the top losers.

Nifty Bank futures

The March expiry Nifty Bank futures opened today’s session lower at 57,250 versus yesterday’s close of 57,311. It is now trading at 56,650, down 1.1 per cent.

The price action since morning shows a strong selling momentum. The daily chart hints at the resumption of the downtrend after a corrective rally. So, the probability for further decline is high.

The nearest support from the current level of 56,600 is at 56,000 followed by 55,600. On the other hand, if there is a recovery from the current level, Nifty Bank futures can face a resistance at 57,000. Subsequent barrier is at 57,400. Only a clear breakout of 57,400 can turn the outlook positive.

Overall, as it stands, the chances of a decline are high and so, traders can consider fresh short positions.

Trade strategy

Short Nifty Bank futures now at 56,650 and 57,000. Place stop-loss at 57,500. When the contract slips to 56,000, revise the stop-loss to 56,500. Exit at 55,600. Traders can consider carrying this trade until Friday.

Supports: 56,000 and 55,600

Resistances: 57,000 and 57,400

Published on March 11, 2026