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Informist, Friday, Nov. 21, 2025

 

By Aaryan Khanna

NEW DELHI - The Nifty Bank is seen going from strength to strength after hitting a record high for the second straight week, breaking past technical barriers and coasting after rosy corporate earnings. Overall bank credit growth also remains robust, up at an 11.3% on-year clip as at October end against a meagre 10.0% as of Aug. 22.

 

"Earlier in the week, the index has registered a strong breakout above its four-week consolidation range of 57,300–58,600, reinforcing the overall positive bias," Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services Ltd., said in a note. "We expect the index to retain its positive momentum and move towards the 59,800 level in the coming week, based on the measuring implication of the recent range breakout."

 

The Nifty Bank index rose 0.6% this week, in line with broader Nifty 50 benchmark, and closed at 58867.70 points on Friday. The index hit a record high of 59440.10 points Thursday, eclipsing the record hit on Nov. 13 by about 800 points. It hit record highs on every day of the week except Friday, when profit booking nipped the gains.

 

Its constituents ended on a mixed note, though private-sector banks showed a more divergent trend. Federal Bank led gains amid all banks, rising 3.7%, while IDFC FIRST Bank was the biggest loser on the index, sliding 2.6% this week. State-owned banks saw more muted moves, though index heavyweight State Bank of India led the charge in the segment with a 0.5% gain. Bank of Baroda ended 0.9% lower this week despite signing a memorandum of understanding with Small Industries Development Bank of India to together boost credit flow, expand working capital access, and increase financial support for micro, small, and medium enterprises and startups across India.

 

"For Bank Nifty, 58300 would act as a trend decider level. Above this, it could move up to 59500. Further upside may lift the index to 59800-60000," Kotak Securities said in a note. "Conversely, if it falls below 58300, the chances of hitting 58000-57700 increase."

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Following are the resistance and support levels for the sector's key stocks for next week, as per calculations based on their prices on the National Stock Exchange:

 

Company	Price	Week-on-Week Change in %	Resistance	Support
AU Small Finance Bank	915.35	2.80	932.60	900.00
Axis Bank	1,275.80	2.80	1,289.30	1,266.30
Bank of Baroda	284.15	(-)0.90	289.80	280.50
Canara Bank	145.77	(-)0.20	149.50	143.10
Federal Bank	245.06	3.70	249.20	242.00
HDFC Bank	998.05	0.90	1,012.70	989.20
ICICI Bank	1,369.50	(-)0.30	1,381.40	1,358.60
IDFC FIRST Bank	78.33	(-)2.60	79.70	77.40
IndusInd Bank	846.55	(-)0.20	870.90	818.40
Kotak Mahindra Bank	2,087.80	0.40	2,125.60	2,059.60
Punjab National Bank	122.37	0.10	124.60	120.90
State Bank of India	972.60	0.50	984.30	965.20
Nifty Bank	58867.70	0.60	59383.00	58566.00
Nifty 50	26068.15	0.60	26226.90	25972.90
S&P BSE Sensex	85231.92	0.80	85764.60	84921.50

End

 

Edited by Ashish Shirke

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