Market Overview - The Nifty Bank index opened at 59,225, showing a gap-up from Friday's close of 59,069, and is currently hovering around 59,300, reflecting a 0.4% increase [1] - The advance/decline ratio is 10/2, indicating a strong positive bias in the market [1] - Nifty Private Bank and Nifty PSU Bank indices have both increased by 0.35% [2] Nifty Bank Futures - December expiry Nifty Bank futures opened higher at 59,425 compared to last week's close of 59,231 and is currently trading at 59,460, up 0.4% [3] - The contract bounced off the 50-day moving average at 59,000 last week, establishing a strong base between 59,000 and 59,150 [3] - The probability of a rally from the current level is high, given the broader uptrend remains intact [3] Price Targets and Support/Resistance Levels - The nearest hurdle for Nifty Bank futures is at 59,750, with expectations to surpass this level and rise to 60,200 and 60,500 in the near term [4] - A breakout above 60,500 could push the contract further to 61,000, while a decline below 59,000 is unlikely, but if it occurs, it could extend to 58,250 [4] Trade Strategy - A recommendation was made to buy Nifty Bank futures (December) at 59,150, with a target of 60,500 and a stop-loss at 58,900 [5] - Supports are identified at 59,150 and 59,000, while resistances are at 60,200 and 60,500 [5]

Core Insights - Nifty Bank index opened higher at 58,316 but has since slipped to around 58,180, indicating a slight decline after the initial gain [1] - Public sector banks are outperforming private banks, with Nifty PSU Bank up 0.2% while Nifty Private Bank remains flat [2] - Nifty Bank futures for November opened at 58,620, showing a 0.2% increase from the previous close of 58,519, and are expected to rally towards 58,850 and potentially 59,500 [3] Market Performance - The advance/decline ratio in the Nifty Bank index is currently even at 6/6, with Punjab National Bank and State Bank of India being the top gainers, up 0.9% and 0.75% respectively [1] - IDFC First Bank and The Federal Bank are the top losers, down 0.6% and 0.5% respectively [1] Futures Analysis - The Nifty Bank futures have moved above the resistance level of 58,550, indicating a positive trend and potential for further gains [3] - A support level is identified at 58,450, with a potential downswing to 58,150 if the futures slip below this support [4] Trading Strategy - For intraday trading, a long position on Nifty Bank futures is recommended if it surpasses 58,650, with target and stop-loss set at 58,850 and 58,550 respectively [5] - Key support levels are at 58,450 and 58,150, while resistance levels are at 58,650 and 58,850 [5]