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 https://www.tradingview.com/x/ARUtLN8N/
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 https://www.tradingview.com/x/xBvBbFgb/