Nifty Bank index began today’s session lower at 59,893 versus yesterday’s close of 59,991. It is currently trading at 59,950, down about 0.1 per cent.
The advance/decline ratio stands at 4/10, showing a bearish bias. IDFC First Bank and ICICI Bank, up 0.5 per cent each, are the top gainers in the Nifty Bank index.
On the other hand, Yes Bank (down 1.7 per cent) is the top loser followed by Union Bank (down 1.4 per cent).
Nifty PSU Bank has lost nearly 0.3 per cent whereas Nifty Private Bank is down nearly 0.1 per cent. Therefore, the public sector banks are underperforming the private peers.
Nifty Bank futures
The January expiry Nifty Bank futures opened today’s session at 60,110 versus yesterday’s close of 60,171. It is now hovering around 60,120, down 0.1 per cent.
The price action from the beginning of this week shows that the contract is stuck between the support at 60,000 and the resistance at 60,500.
Until either of these levels are breached, the path of the next leg of trend will remain uncertain.
In case the support at 60,000, Nifty Bank futures might extend the fall to 59,700. But if the contract breaks out of 60,500 it can trigger an uptick to 61,000.
With respect to the intraday trend, the key levels to watch out for are 60,000 and 60,250.
Trade strategy
If Nifty Bank futures (January) slips below 60,000, go short with a stop-loss at 60,150 for a target of 59,700.
But if the contract surpasses 60,250, buy with a stop-loss at 60,000 for a target of 60,500.
Supports: 60,000 and 59,700
Resistances: 60,250 and 60,500
Published on January 8, 2026
