Nifty Bank Prediction Today – January 23, 2026: Nifty Bank futures: Might stay within a range

Group 1 - Nifty Bank index opened at 59,305, showing a gap-up from the previous close of 59,200, but is currently trading at 59,100, down 0.2% [1] - The advance-decline ratio is 6-8, indicating a slight bullish sentiment, with IDFC First Bank and Union Bank of India being the top performers, up 1% and 0.8% respectively [1] - Punjab National Bank is the top loser, down 1%, followed by Bank of Baroda, down 0.9% [1] Group 2 - Nifty PSU Bank has decreased by nearly 0.3% today, while Nifty Private Bank is down 0.1%, indicating higher selling pressure on public sector banks [2] Group 3 - January expiry Nifty Bank futures opened higher at 59,463 compared to the previous close of 59,343, but is currently trading at 59,175, down 0.3% [3] - The futures faced resistance at 59,500, and a breakout above this level is needed for a positive outlook, with support at 59,000 to potentially halt the downtrend [3][4] Group 4 - The Nifty Bank futures are expected to remain within the range of 59,000 and 59,500 today, with the breakout direction providing clues for the next trend [4] Group 5 - Trade strategy suggests staying on the sidelines and initiating trades based on the breakout of the 59,000-59,500 range, with specific targets and stop-loss levels outlined for both short and long positions [5]