Market Overview For 10th January 2023

January 10, 2023 by Ayush Anjana · 1 min read


The Broader Market Indices opened with a gap up where nifty headed one way up till 18120 and banknifty till 42700 plus yet there was a rejection and both indices fell where banknifty tested the day’s open and bounced closing around 42600

Nifty Daily Chart 

  • Nifty forming double bottom formation around 17800
  • Moreover the structure looks rangebound between 17800-18250
  • Strength to follow once 18250 is taken out , expect volatility with consolidation as the range we have is broader

Nifty 45 Minute chart analysis 

  • Nifty opens with a gap up and heads higher with momentum till 18125 and gets rejected falls one way back to 18000 , defending the 18000 level nifty closed around 18100
  • Key levels to look are 17950 on the downside and 18250 on the upside

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty trading within an inside bar formation between 42700 and 41900
  • The structure is rangebound bearish until we dont close above 43000
  • Currently the range visible for bank nifty is 41500-43600

Banknifty 45 Minute chart analysis 

  • Banknifty opens with a gap up and heads higher getting rejected from 42700 thereafter it fell till 41330 and bounced closing above 42500
  • Key levels to watch are 42400 and 42900

Banknifty 15 Minute chart