Market Overview For 08th December 2022

December 7, 2022 by Ayush Anjana · 2 min read


The Broader Market Opened flat and went up before the RBI policy where banknifty made a high of 43300 and fell towards the low of 42900 and nifty went up to a high of 18660 and fell closing around the day’s low of 18540

Nifty Daily Chart 

  • Nifty breaks 18600 level on the downside and closes around 18540
  • Until below 18600 , the range visible is 18400-18600
  • Tomorrow being the result of gujarat election , we can see a trendy day 

Nifty 45 Minute chart analysis 

  • Nifty opens flat and consolidate before the rbi policy after which it falls closing around fresh low for the day
  • Key levels to watch for will be 18450 on the downside and 18660 on the upside
  • Nifty currently is trending in a downside parallel channel which if it gives a breakout then only we can expect some strength 

Nifty 15 Minute chart

Banknifty Daily Chart 

  • Banknifty tests 43300 and faces rejection going towards 42900 and bounces back defending 43000 closes around 43100
  • Currently nifty trend is rangebound between 43300 and 42850 
  • Once this range is broken , we can expect some trendy move 

Banknifty 45 Minute chart analysis 

  • Banknifty opens nearly flat , heads higher before rbi policy towards 43300 and gets rejected
  • Falling towards 42900 where it bounces back up and defends 43000 on daily close
  • Currently banknifty looks rangebound 42850 and 43300 
  • Once this range is broken and sustained for more than 15 Minutes we can expect some trendy move

Banknifty 15 Minute chart