Market Overview For 10th November 2022

November 10, 2022 by Ayush Anjana · 2 min read


The Indian broader Indices opened with a slight gap up and slides down where nifty was relatively weaker than banknifty as bank nifty stayed rangebound nearly till 3pm in the Initial 5 Minute range post which closing at fresh day’s low but nifty broke below previous days close but nifty fell nearly 150 point from the high

Nifty Daily Chart 

  • Nifty opens around 18300 and closes below the 18180-18200 resistance
  • Nifty looks rangebound between 17800-18180
  • Strength to come once we close above 18200 again
  • With the broader trend being positive and crucial support around 17800

Nifty 45 Minute chart analysis 

  • Nifty had a open equals to high of the day and close at fresh low of the day
  • Key levels to watch are 18200 on the upside and 18000 on the downside
  • We can see selling pressure towards 17800 if 18000 is broken and sustained for 15 Minutes

Nifty 15 Minute chart

Banknifty Daily Chart

  • Even though Banknifty happens to close at a new all time high on daily basis
  • There is clearly a follow through movement which is lacking
  • Looks rangebound between 41500-42000
  • With the trend being positive strong momentum to come once 42000 is taken out

Banknifty 45 Minute chart analysis 

  • Banknifty opened with a gap up and consolidated within the initial 5 Minutes range for the day just after 3pm which it broke closing at fresh day’s low
  • With the intraday’s structure , higher chances of a gap down opening
  • Key levels to watch for will be 41500 on the downside and 42000 on the upside 

Banknifty 15 Minute chart