Nifty Bank index is attempting to bounce back after falling back from the day’s high. The index touched a high of 52,495 in the early trades and then reversed lower from there. However, it is now trying to bounce back again. Nifty Bank index is now trading at 52,220, up 1.52 per cent.
The index has resistances at 52,700 and 53,000. Support is at 52,000 which has to hold during the day to avoid more fall. A break below 52,000 will be bearish for a fall to 51,000.
A sustained rise above 53,000 is needed to strengthen the bullish case. Only then a rise to 54,000 and higher levels will come into the picture.
It is a wait-and-watch situation for now.
The Nifty Bank March Futures (52,160) is up 1.3 per cent. Intraday resistances are at 52,850 and 53,000. Support is around 51,900. The index has to sustain above 51,900 in order to avoid more fall. At the same time, a break above 52,850 and a subsequent rise past 53,000 is needed to gain momentum. Only then a rise to 54,000 will come into the picture.
In case the index declines below 51,900, it can fall to 51,300-51,000 during the day.
For now, 51,900-53,000 can be the possible trading range within which it can oscillate for some time.
Since the direction of move is unclear, it is better to stay out of the market.
Supports: 51,900, 51,000
Resistances: 53,000, 54,000
Published on March 24, 2026
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