Nifty Bank index began today’s session with a huge gap-down at 52,576 versus Friday’s close of 53,427. It dropped further after opening and is now trading at 51,750, down 3.1 per cent.

All 14 stocks in the index are in the red. Union Bank of India (down 4.6 per cent) is the top loser followed by Canara Bank (down 4.5 per cent). ICICI Bank (down 1.6 per cent) dropped the least so far today.

Nifty PSU Bank has lost 4 per cent and is one of the weakest sectors. Nifty Private Bank is down 2.4 per cent. So, broadly, the public sector banks are facing greater selling pressure when compared with the private banks.

Nifty Bank futures

The March expiry Nifty Bank futures opened today’s session much lower at 52,700 versus last week’s close of 53,554. It slipped after opening and is now trading at 51,820, down 3.3 per cent.

The price action shows that the bears are dominating and there are no signs of them slowing down. From the current level, Nifty Bank futures might see a rise to 52,150. But then, it will most likely fall after the uptick.

Considering the strength of the bears, Nifty Bank futures can see a decline to 51,000 soon. Support below 51,000 is at 50,500.

Trade strategy

Short Nifty Bank futures (March) if it moves up to 52,150. Target and stop-loss can be 51,000 and 52,500 respectively. Traders can carry this trade for tomorrow’s session.

Supports: 51,000 and 50,500

Resistances: 52,150 and 52,750

Published on March 23, 2026