The Nifty Bank Index has about 56,000 oscillate in recent days. It is currently being traded flat at 55,765. The ratio for progress/decreases is 7: 5. This is positive. If this trend persists, there are good opportunities to see an increase during the day.
The Reserve Bank of India (RBI) has reduced the repo rates by 50 basic points to 5.5 percent in its meeting today.
Nifty Bank Outlook
Nifty Bank Index has resistance in the region 56,000-56,100. A strong break above 56.100 is needed to activate an increase to 56,300 and higher.
Support is approximately 55,500 which, if broken, can drag the index to 55,300-55.100.
Broadly speaking, 55,500-56.100 can be the trade range for the time being. An outbreak on either side This range will decide the next stage of movement.
Nifty Bank Futures
The Nifty Bank June Futures (56,233) has risen by 0.3 percent. Support is 55,800-55,700 in the region that holds well for the time being.
Resistance is approximately 56,400. A strong break above this resistance can take the contract up to 56,700 and higher. The bias is positive. So we expect that the contract will break this resistance and the rise in the upcoming sessions.
Trade strategy
Traders can now go for a long time at 56,233. Keep the stop-loss at 55,120. Trail de Stop-Loss up to 56,280 as soon as the contract goes up to 56,340. Move the stop loss further on T56.380 when the contract affects 56.420. Leave the lungs at 56,480
Support: 55,800, 55,700
Resistors: 56,400, 56,700
More so
Published on June 6, 2025
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