Market Overview For 11th January 2023

January 10, 2023 by Ayush Anjana · 2 min read


The Broader Market Indices opened with a gap up , from the initial tick there was a sell off in both the indices where nifty fell from a high of 18125 to 17900 and banknifty from 42675 to 41880 

Nifty Daily Chart 

  • Nifty opens around 18100 and closed at 17900
  • The structure looks weak as every rise or gap up is getting sold into , range visible is 17800-18150
  • Key level to watch will be 17800 which was a good support 

Nifty 45 Minute chart analysis 

  • There was a one way selloff from the open followed by the consolidation in the end
  • Key levels to watch are 17800 and 18150
  • Once 17800 is taken out , we can see some more weakness in the index

Nifty 15 minute chart

Banknifty Daily chart 

  • After the pullback yesterday , banknifty again trades below the major trendline support
  • Higher Chances of 41500 getting tested which is an important levels for the bulls
  • Strength only above 43000 

Banknifty 45 Minute chart analysis 

  • Banknifty opened around 42675 , there was a sell off one way down till 41900
  • On lower time frames 41800 is also important , we can see some more weakness once that is taken out
  • Key levels to watch are 41800 and 42300

Banknifty 15 Minute chart