Market Overview For 10th October 2022

October 10, 2022 by Ayush Anjana · 2 min read


The Broader Indices opened with a gap down on friday with a follow down move in the first half of the session followed by a bounce where banknifty futures made a new day’s high at closing and nifty closed within the day’s range

Among the sectoral indices , nifty Media was the strongest and Nifty Fmcg was the weakest index on friday

Nifty Futures 

Daily Chart

  • Nifty Futures opened with a gap down tested the 17220 level and bounced back from the same level 
  • Nifty Futures looks range bound between 17200-17250
  • We can see the trendy move to continue once the range is broken either side

Nifty Futures 45 Minute chart analysis

  • Nifty Futures opened with a gap down , retested the 17220 breakout level and bounced back closing above 17300
  • Key levels to watch are 17220 on the downside and 17450 on the upside
  • As per the intraday structure once 17450 is taken out we can see good up move 
  • Downside momentum to continue only if 17200 is taken out and sustained for more than 15 Minutes

Nifty Futures 15 Minute chart

Banknifty Futures 

Daily Chart

  • banknifty Futures opened gap down below 39200 but on a closing basis bounced back closing above 39200
  • banknifty Futures looks 39200 and 39800
  • Closing below 39200 , bank nifty will reenter the previous consolidation range

Banknifty Futures 45 Minute chart

  • banknifty futures opened with a gap down tested the 38900 level and bounced back 
  • Key level to watch for are 38900 on the downside and 39800 on the upside
  • Rangebound between 38900-39800

Banknifty Futures 15 Minute chart