Market Overview For 12th January 2023

January 11, 2023 by Ayush Anjana · 2 min read

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The Broader Market Indices opened flat , initially corrected followed by a wild up move of more than half percent and then  again corrected , volatility was on a high end the whole day

Nifty Daily Chart 

  • Nifty trades within an inside bar with good amount of volatility 
  • The broader range visible is 17800 and 18250
  • We can expect weakness once we have a closing below 17800

Nifty 45 Minute chart analysis 

  • Nifty traded within yesterday range but the moves were untradable with huge spikes
  • There is small consolidation between 17980 and 17850
  • From a risk reward perspective , fresh shorts to be avoided if we dont break below 17800 and trade more than 15 minutes

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

Banknifty Daily Chart 

  • Banknifty Trading within an inside bar range of 41800 and 42750
  • Breaking of the inside bar any side can witness a trendy move
  • Personally feel adding bank bees at the current junction around 41500 can be good for long term index investing

Banknifty 45 Minute chart analysis 

  • Banknifty opens flat and slides down , followed by a wild 300 point up move in less than 5 minutes and then consolidated with good amount of volatility 
  • Key levels to watch are 41800 on the downside and 42400 on the upside
  • We can expect some upmove once 42400 is taken out

Banknifty 15 Minute chart https://www.tradingview.com/x/tomhLY2a/

LET’S WORK TOGETHER