Market Overview For 11th October 2022

October 11, 2022 by Ayush Anjana · 2 min read


The Indian broader Indices opened gap down on Friday following the US job data numbers and global clues but post the gap down headed higher to 39400 for banknifty futures and 17265 for nifty futures from where they faced selling pressure and fell with volatility remaining high throughout the day. With Tcs Results coming , the Whole IT sector will be in focus today

Nifty Futures

Daily Chart

  • Nifty Futures closes above 17200 even post the gap down opening
  • With 17000 as near support and 17450 as resistance forming a range
  • We can expect strength only once 17450 is taken out on daily basis

Nifty Futures 45 Minute chart analysis 

  • In Spite of a gap down opening nifty futures recovered and closed above 17220
  • Key levels to watch are 17000 on the downside and 17300 on the upside
  • In case of a flat opening how the index reacts to 17200 will also be important as bulls have been trying well to defend that level

Nifty Futures 15 Minute chart

Banknifty Futures

Daily Chart

  • banknifty futures trading in the previous consolidation range of 39800 and 38000
  • We can expect good strength only once 39800 is taken out 
  • Monday’s low is going to be important support for the bulls

Banknifty Futures 45 Minute chart

  • Banknifty Futures recovered post a gap down opening 
  • Getting rejected with some selling pressure around 39400-39450 makes it important 
  • In case of a flat opening how the index respects 39000 will be decisive 
  • And yesterday’s low of 38600 also a good support 

Banknifty Futures 15 Minute chart