Nifty Bank index opened today’s session lower at 53,631 compared to Yesterday’s close of 53,661. It rose after opening and is now hovering around 53,760, up nearly 0.2 per cent.
The advance/decline ratio stands at 10/2, showing a bullish bias. IndusInd Bank (up 1.3 per cent) and Canara Bank (up 1.1 per cent) are the top gainers.
On the other hand, ICICI Bank (down about 0.3 per cent) and HDFC Bank (down 0.2 per cent) are the losers.
Nifty PSU Bank has gained 0.8 per cent and Nifty Private Bank is up 0.25 per cent. Therefore, the public sector banks are broadly outperforming their private peers.
Nifty Bank futures
The September futures of Nifty Bank index began today’s session at 54,011 versus yesterday’s close of 54,039. It is currently trading at 54,040.
Although the broader trend is bearish, the chart shows that the contract is now stuck between 53,950 and 54,500. On the back of the prevailing bearish bias, if Nifty Bank futures slips below the support at 53,950, it will open the door for a decline to 53,500.
On the other hand, in case the contract bounces off 53,950, it can retest the resistance at 54,500. A breakout of this can turn the short-term outlook positive. In such a case, Nifty Bank futures can rally to 55,350.
That said, the current chart set up indicates that the probability of the contract breaching the support at 53,950 is higher.
Trade strategy
Short Nifty Bank futures (September) once it breaches the support at 53,950. Target and stop-loss can be 53,500 and 54,150 respectively.
Supports: 53,950 and 53,500
Resistances: 54,500 and 55,350
Published on September 3, 2025
