Nifty Bank futures show bearish momentum today. March expiry contracts opened lower at 61,467 and have fallen to 61,100, down 0.6 percent, after closing below the critical 61,150 support level. The advance-decline ratio of 1-13 signals strong selling pressure, with private banks facing steeper declines than public sector counterparts. Yes Bank and AU Small Finance Bank lead losses at 1.4 and 1.1 percent respectively. Technical analysis indicates further downside potential toward 60,500 and 60,000 support levels. Recovery above 61,150 appears unlikely given current chart dynamics. Traders are advised to short Nifty Bank futures at current levels with target of 60,750 and stop-loss at 61,250. Resistance points remain at 61,250 and 61,500 for potential reversals.
