Nifty Bank Prediction Today – June 06, 2025: Can break the resistance and rise. Go long

Nifty Bank index has been oscillating around 56,000 over the last few days. It is currently trading flat at 55,765. The advances/declines ratio is at 7:5. This is positive. If this trend sustains, there are good chances to see a rise during the day.

The Reserve Bank of India (RBI) has cut the repo rates by 50 basis points to 5.5 per cent in its meeting today.

Nifty Bank outlook

Nifty Bank index has resistance in the 56,000-56,100 region. A strong break above 56,100 is needed to trigger a rise to 56,300 and higher.

Support is around 55,500 which if broken can drag the index down to 55,300-55,100.

Broadly, 55,500-56,100 can be the trading range for now. A breakout on either side this range will decide the next leg of move.

Nifty Bank Futures

The Nifty Bank June Futures (56,233) is up 0.3 per cent. Support is in the 55,800-55,700 region which is holding well for now.

Resistance is around 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 the contract to break this resistance and rise in the coming sessions.

Trade Strategy

Traders can go long now at 56,233. Keep the stop-loss at 55,120. Trail the stop-loss up to 56,280 as soon as the contract goes up to 56,340. Move the stop-loss further up t56,380 when the contract touches 56,420. Exit the longs at 56,480

Supports: 55,800, 55,700

Resistances: 56,400, 56,700

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Published on June 6, 2025