Bank Nifty Set for Firm Opening on May 6 as Global Sentiment Supports Financials
Bank Nifty is expected to open on a strong footing today, driven by stable global cues, a higher GIFT Nifty, and supportive rate environment.
Key Highlights:
Bank Nifty Prediction Today: Financials Poised for Rebound as Market Sentiment Turns Positive
India’s Bank Nifty index is expected to begin the May 6, 2025 trading session on a positive note, with early cues from GIFT Nifty Futures and global market strength suggesting a risk-on mood. The index, which closed at 52,870.35 in the last session, may test higher resistance zones today if financials lead the rally.
Opening and Intraday Forecast
- Expected Opening: Around 53,050–53,100
- Intraday Support: 52,700 / 52,500
- Resistance Levels: 53,280 / 53,450
- Bias: Bullish with potential consolidation
If Bank Nifty holds above 52,900, analysts expect a push toward 53,300+, especially if heavyweight private banks extend momentum.
Key Stocks to Watch
- HDFC Bank: Could gain further if it sustains above ₹1,570
- ICICI Bank: Expected to lead mid-session if volume builds
- SBI & Axis Bank: Supportive on strong PSU and midcap traction
- Kotak Bank: Watch for technical breakout if ₹1,825 is crossed
Bank Nifty’s structure looks constructive after consolidating recent gains and may attract both institutional and retail traders for short-term plays.
Why Bank Nifty May Gain Today
- GIFT Nifty Uptrend: Positive signal for banking-heavy Nifty structure
- Stable Global Yields: Reduces rate-sensitive pressure on financials
- Nasdaq & Global Markets: Tech-led rally improved sentiment across sectors
- RBI Outlook: No near-term rate hike signs, keeping lending outlook stable
With defensive positioning giving way to aggressive rotational flows, financials may see renewed buying.
What Happens Next
- Breakout Watch: Move above 53,280 could invite further buying
- Profit Booking Risk: Resistance near 53,400–53,450 must be handled with caution
- FII Activity: Institutional inflow into banking names will validate intraday strength
Volatility may remain moderate unless macro surprises or unexpected global events intervene.
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