Nifty Bank index began today’s session with a huge gap-down at 50,626 versus yesterday’s close of 51,449. The index fell after opening and is now hovering around 50,050, down 2.7 per cent.

All 14 stocks constituting the index have depreciated so far today. Top losers are AU Small Finance Bank, Bank of Baroda and Union Bank of India, down nearly 4 per cent each.

Nifty PSU Bank has lost 3.7 per cent and is one of the weakest sectoral indices today. Nifty Private Bank is down 2.1 per cent. Therefore, the public sector banks are facing greater selling pressure than their private peers. 

Nifty Bank futures

The April expiry Nifty Bank futures opened today’s session significantly lower at 50,760 versus yesterday’s close of 51,785. It is now trading at 50,300, down 2.8 per cent.

The price action so far today reiterates the bear dominance. While the chart shows that the contract is now stabilising, the bears are expected to regain traction and drag the contract further lower. Nifty Bank futures can potentially drop to 50,000 from the current level.

For the contract to turn the intraday outlook positive, it ought to decisively break out of 50,750. In such a case, Nifty Bank futures can rise to 51,250. However, as it stands, the chances for a rally are low. 

Trade strategy

Short Nifty Bank futures (April) now at 50,300 and at 50,500. Target and stop-loss can be 50,000 and 50,680 respectively. If neither of these levels are triggered, consider exiting the position at the end of the day. 

Supports: 50,000 and 49,800

Resistances: 50,750 and 51,250

Published on April 2, 2026