The Nifty Bank index blessed the lowest session at 55,104 versus yesterday’s closure of 55,370. He is currently around 55,360.
The anticipation/decrease ratio is 9/3, a positive indication. Indusind Bank (up to 4.4 percent) and the Federal Bank (1 percent more) are the main winners.
At the other extreme, IDFC First Bank (less 0.9 percent) and Icici Bank (0.8 percent lower) are the main losers so far.
Both Nifty Psu Bank and Nifty Private Bank have won 0.2 percent each.
Nifty Bank Futures
APPIR OF EXPIRATION Nifty Bank Futures opened the lowest session today at 55,244 against yesterday’s closure of 55,401. Now it lies around 55,400.
The graph indicates some loss at the ascending time, since there is a resistance to 55,920. However, this is not a sign of an bearish investment in the trend, since there is support ahead.
The closest support of the current level of 55,400 is 55,000. A violation of this can convert the weak intradic perspective.
In this case, the contract may decrease to 53,900.
That said, the predominant price action shows that Nifty Bank Futures is consolidating between 55,000 and 55,920. The direction of the violation of this range can give clues about the next stage of trend.
In addition, today it will be the expiration day of the April contracts, volatility can increase and can result in false outbreaks, which increases the risk of intradic positions today.
Commercial strategy
Considering that Nifty Bank Futures (April) moves from side to and that today is an expiration day, we suggest that he stays out.
Support: 55,000 and 53,900
Resistances: 55,920 and 56,200
Posted on April 24, 2025