Nifty Bank Prediction Today – May 7, 2025: Chart shows bearish bias

The Nifty Bank index began today’s session lower at 54,013 versus yesterday’s close of 54,271. It declined after opening, and is currently at 54,350, up 0.2 per cent so far today.

The advances/ declines ratio stands at 9/3, showing a bullish bias. Punjab National Bank (up 2 per cent) and IDFC First Bank (up 1.4 per cent) are the top gainers. IndusInd Bank, down 0.8 per cent, is the top loser as of now.

Nifty PSU Bank has gained 0.6 per cent whereas Nifty Private Bank is trading flat. So, overall, the public sector banks seem to be outperforming their private peers.

Nifty Bank futures

Nifty Bank futures (May) opened today’s session lower at 54,250 against yesterday’s close of 54,363. It is now trading around 54,520, up 0.25 per cent.

The chart shows that there are resistance levels ahead at 54,600 and 54,800. In case Nifty Bank futures falls off these levels, it can slip to 53,300 and 53,000, notable support levels.

On the other hand, if the contract rises above 54,800, the intraday outlook can turn positive. In such a scenario, Nifty Bank futures can rally to 55,800 and 56,000.

Nevertheless, the prevailing price action shows a bearish bias. But note that there might be a build-up in volatility following India’s retaliation for the Pahalgam terror attack. So, traders should tread with caution.