Nifty Bank index has intraday support at 54,700-54,680, with a potential downside to 54,400-54,300 upon breaking below 54,680.
Intraday resistance is at 54,950-55,000, and breaching 55,000 could lead to an upward movement towards 55,100-55,200.
Nifty Bank May Futures contract is anticipated to bounce back from the 54,600-54,500 support zone and rise to 54,900, staying within the trading range of 54,500-55,900.
Traders advised to go long on dips at 54,660 and 54,580 with a stop-loss at 54,440, adjusting it upwards as the contract progresses, and suggested exit at 55,400.