The Nifty Bank index began today’s session with a huge gap-down at 53,475 versus Wednesday’s close of 55,326. It inched up after opening and is now trading at 53,800, down 2.8 per cent.

All 14 stocks in the Nifty Bank index are down today, denoting significant selling pressure. HDFC Bank (down 4.6 per cent) and IDFC First Bank (down 3.6 per cent) are the top losers.

Nifty Private Bank has lost 3.3 per cent so far today and is the weakest sectoral index, whereas Nifty PSU Bank is down 2.2 per cent. Therefore, the private banks are facing greater selling pressure than their public sector peers. 

Nifty Bank futures

The March expiry Nifty Bank futures opened today’s session considerably lower at 54,200 versus yesterday’s close of 55,416. It is now trading at 53,950, down 2.7 per cent.

The factor mentioned above definitely shows a clear negative inclination. However, the price action shows that the bears have lost some of their strength. However, this is no indication that the trend has turned bullish.

If Nifty Bank futures can surpass resistance at 54,200, the intraday trend can turn positive, possibly leading to a rise to 54,800. On the other hand, in case the bears regain traction, the contract can resume the decline and see another downswing to 53,500 or 53,200.

Trade strategy

There is no clarity on the intraday trend at the moment. Also, going short afresh at current levels carries high risk. Hence, we suggest staying out today.

Supports: 53,500 and 53,200

Resistances: 54,200 and 54,800

Published on March 19, 2026