Bank Nifty December Futures (51,192)

Nifty Bank index seems to be struggling to get a follow-through rise. The index is trading lower today at 51,220, down 0.2 per cent. The advances/declines ratio is at 8:4.

Bank Nifty outlook

The index has resistance in the 51,400-51,500 region which is holding well now. Support is around 51,000. A breakout on either side of 51,000-51,500 will determine the next move.

A break below 51,000 will be bearish to see 50,700 on the downside. On the other hand, a break above 51,500 will be bullish. Such a break can take the index upto 51,800-52,000 in the coming sessions.

Bank Nifty Futures

The Bank Nifty December Futures (51,192) is down 0.22 per cent. Similar to the underlying the contract has support at 51,100 and resistance at 51,500. A breakout on either side of this range will determine whether the index will fall to 50,700 or rise to 51,900.

Trade Strategy

The index can oscillate in a range of 51,100-51,500. Traders can stay out of the market now. Trades can be taken accordingly based on which side the breakout happens.

Supports: 51,100, 50,700

Resistances: 51,500, 51,900