Nifty Bank Prediction Today – May 30, 2025: Index struggling to find direction

Nifty Bank index began today’s session higher at 55,616 versus Thursday’s close of 55,546. However, it declined after opening and is currently hovering around 55,400, down 0.3 per cent.

Barring AU Small Finance Bank (up 0.5 per cent) and HDFC Bank (up 0.1 per cent), all other stocks in the index are down so far today. IndusInd Bank (down 1.2 per cent) and Canara Bank (down 1 per cent) are the top losers.

Nifty PSU Bank is down 0.6 per cent whereas Nifty Private Bank has lost 0.4 per cent. Therefore, the public sector banks are facing comparatively higher selling pressure than their private peers.

Nifty Bank futures 

Nifty Bank futures (Jun) opened today’s session with a minor gap-up at 55,950 versus yesterday’s close of 55,870. But it fell after opening and is now trading at 55,750, down 0.2 per cent.

The chart shows that the contract has been consolidating between 55,000 and 56,200 for nearly three weeks. Therefore, unless either of these boundaries are breached, we cannot be certain about the direction of the next leg of trend.

A breakout of 56,200 will reignite the bull trend, potentially leading to a swift rally to 56,500 and 57,000. On the other hand, if the contract slips below the support at 55,000, Nifty Bank futures (Jun) might decline to 54,000 and 53,150, notable support levels. 

Trade strategy

Refrain from taking new position as the trend remains uncertain.

Supports: 55,500 and 55,000

Resistances: 56,200 and 56,500

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Published on May 30, 2025