Nifty Bank index is managing to stay afloat. However, the price action indicates that the index lacks strength. Nifty Bank index is currently trading at 54,550, up 0.16 per cent. The advances/declines ratio is at 8:4. This is positive. If this sustains, the index can move up during the day.

Nifty Bank outlook

Nifty Bank index has an intraday resistance around 54,800 which is holding well for now. A strong break above 54,800 is needed to go up towards 55,000-55,100. Failure to breach 54,800 and a fall from here can drag the Nifty Bank index down to 54,300-54,250 during the day.

Nifty Bank Futures

Nifty Bank September Futures (54,575) is trading flat. Cluster of resistances are there in the broad 54,700-54,900 region. A strong rise above 54,900 is needed to turn the outlook convincingly

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