Bank Nifty Soars to Record High: Is 60,000 Within Reach?

Fast Summary

• Bank Nifty Surge: Bank Nifty index hit an all-time high of 57,049.50 on June 9, 2025.
• Top Gainers: Kotak Mahindra Bank, AU Small Finance Bank, Canara Bank, Axis Bank, and Punjab national Bank rose over 2%, while ICICI Bank traded in the red.
• Technical Insights: The index showcased bullish momentum through a “stage-2 cup pattern breakout.” Upside target is projected at 58,700; downside cushion likely near the range of 56,300-56,200.
• RBI CRR Reduction: The Reserve Bank of India cut the Cash Reserve Ratio (CRR) by 100 basis points to 3% for net demand and time liabilities (NDTL), injecting an estimated liquidity of Rs. 2.5 lakh crore into the banking system.
• Additional monetary easing measures included over Rs. 7 lakh crore liquidity infusion via OMO purchases in recent months.
• Following consolidation for a month, the index resumed its primary uptrend with a decisive breakout above prior resistance levels.

!Read More