Market Overview For 11th November 2022

November 11, 2022 by Ayush Anjana · 2 min read

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The Indian broader Indices opened with a gap down , slided down post the open where both indices made a bottom and bounced back closing above open of the day indicating strong momentum coming in before the release of US CPI data 

Nifty Daily Chart 

  • Nifty opens with a gap down , slides and test  17970 and bounce back closing above 18000
  • With the Us inflation data post tomorrow the trend will be clear
  • Highly possible that if we break 18200 levels we head towards all time high levels

Nifty 45 Minutes chart analysis 

  • Nifty takes support at the range low of 17950-18200 and bounced back
  • Key levels to watch for are 17950 on the downside and 18200 on the upside
  • Sustaining above 18200 for more than 15 minutes can bring in momentum in case we open within 17950-18200

Nifty 15 Minute chart https://www.tradingview.com/x/pF0pZIPx/

Banknifty Daily Chart 

  • Banknifty opens with a gap down tests 41300 levels and bounces back closing around 41600
  • With the US inflation data , post which if banknifty gives a daily closing above 42000 will be a bullish sign
  • Crucial support for the broader trend at 40800

Banknifty 45 Minute chart analysis 

  • Banknifty opens with a gap down , respects 41300 level and bounced
  • Key levels to watch are 41300-42000 
  • We can see the trendy move once the range is broken and sustained for more than 15 minutes 

Banknifty 15 Minutes chart https://www.tradingview.com/x/jVoi8mxD/

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