Nifty Bank index is bearish with expectations of falling to 56,600 initially and potentially lower to 56,600 and 56,500 in upcoming sessions.
Immediate resistance stands at 56,850, with a crucial support zone at 57,000-57,100. A positive sentiment shift requires a strong rise above 57,100, which appears unlikely currently.
Nifty Bank July Futures are down 0.43% at 56,925, with a bearish outlook targeting a decline to 56,700-56,650 unless a significant rise above 57,050 occurs.
Traders are advised to go short at 56,925, adding more shorts at 56,985, setting a stop-loss at 57,085, and exiting the shorts at 56,720. Supports are at 56,700 and 56,650, while resistances lie at 57,050 and 57,150.