Market Overview For 12th January 2023
January 11, 2023 by Ayush Anjana · 2 min read

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/