Nifty Bank Prediction Today – May 13, 2025: Index might resume the rally soon

Nifty Bank index opened today’s session lower at 55,234 versus yesterday’s close of 55,383. It further slipped after opening and is currently hovering around 55,060, down 0.6 per cent.

The advance/decline ratio stands at 6/6. Canara Bank and Bank of Baroda, up 3.2 per cent and 2.5 per cent respectively, are the top gainers. Whereas Kotak Mahindra Bank and IndusInd Bank, down 1.6 per cent 1.2 per cent, are the top losers.

Nifty PSU Bank has gained 1.7 per cent but Nifty Private Bank has lost 0.7 per cent. Therefore, so far today, the public sector banks are outperforming their private peers.

Nifty Bank futures

Nifty Bank futures (May) opened today’s session slightly higher at 55,644 against yesterday’s close of 55,599. But it dropped after opening and is now trading at 55,350, down 0.4 per cent.

The decline that the contract has seen so far today is likely to be only a corrective move. So, we can expect a recovery soon. The nearest support levels that can help in the rebound are 55,200 and 55,000.

Once Nifty Bank futures resume the rally, it can go up to 56,000, a resistance. A breach of this can intensify the rally where the contract can rise to 57,000 soon.

Trade strategy

Buy Nifty Bank futures (May) at 55,350 and on a dip to 55,100. Target and stop-loss can be 56,000 and 54,800 respectively.

Supports: 55,200 and 55,000

Resistances: 55,900 and 56,000

Published on May 13, 2025