Market Overview For 11th November 2022
November 11, 2022 by Ayush Anjana · 2 min read

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/