Nifty Bank index is stuck between 55,350 and 56,160 over the last few days. Within this range, it is currently trading at 55,518, down 0.15 per cent. The advances/declines ratio is at 3:9. This can keep the bias negative.
Nifty Bank outlook
Immediate outlook is mixed. An intraday dip to 55,350 is possible. If the index manages to bounce back from this support, then the sideways range will continue to remain intact. In that case, the Nifty Bank index can rise back to 55,700 and higher in the coming sessions.
On the other hand, a break below 55,350 can take the index down to 55,100 and even lower.
Nifty Bank Futures
The Nifty Bank June Futures (55,828) is down 0.18 per cent. Support is at 55,680. Resistance is around 56,000. The contract can remain stuck in between these two levels for now. A breakout on either side of 55,680 or 56,000 will determine the next move.
A break below 55,680 can take the contract down to 55,500-55,480. On the other hand, a rise above 56,000 can be bullish to see a rise to 56,400.
Trade Strategy
Since the market is range bound and unclear, we suggest traders to stay out of the market.
Supports: 55,680, 55,500
Resistances: 56,000, 56,400
Published on June 4, 2025
