The Nifty Bank Begen index today session with a 55,414 versus closing of Monday or 55,305. He extended the rally after the opening and is currently around 55,880, a 1 percent increase.
Locating positive bias, the early ratio/decrease in Nifty Bank is now 9/3. Canara Bank (2.6 percent more) and Kotak Mahindra Bank (2.2 percent more) are leaders so far today.
At the other extreme, Indusind Bank (less than 2.8 percent), the Bank of Small Finance (1 percent lower) and the Axis Bank (0.4 percent) are those in the negative territory.
Within the bank space, public sector banks seem to be comparatively. Nifty Psu Bank has increased by 1.8 percent, while Nifty Private Bank has increased by 0.8 percent so far.
Nifty Bank Futures
APRIR OF EXPIRATION NIFTY BANK FUTURES opened the highest session at 55,360 against yesterday’s closure of 55,294. Now 55,850 has recovered, 1 percent more.
The picture shows that the bulls are in full form and seem to have the strength to lift the highest contract.
The closest potential resistance is 56,000. But given the current momentum Nifty Bank Futures (April) can increase to 56,500 and then to 56,800.
On the other hand, if the contract is submerged from the current level, you can find support in 55,560 and 55,400. A rape of the latter could convert the intra -bassist intra -tendency. But it is unlikely that this happens.
Commercial strategy
Buy Nifty Bank futures at 55,560 and place a stop-loss at 55,150. When the contract reaches 56,200, check the stop-to 55,900. Book earnings at 56,500.
Posted on April 22, 2025