Market Overview For 13th September 2022

September 13, 2022 by Ayush Anjana · 2 min read

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The Indian broader Indices opened within the previous day’s range , nifty was comparatively stronger than banknifty yesterday as banknifty stayed within the friday’s range throughout the day but nifty futures broke the friday’s high and sustained closing above it. Smallcap and midcap index were way stronger than the main indices and yesterday all the sectoral indices closed positive.

Nifty Futures

Daily Chart

  • Nifty futures sustained and closed above the friday’s high after the breakout from the inside bar looks positive
  • Nifty can witness good momentum positionally once the 18000 hurdle is taken out
  • Support around the inside bar breakout retest area 17850

Nifty Futures 45 Minute chart analysis

  • Nifty Futures opened within the previous day’s range and broke the high and sustained above it.
  • But again got rejected from the 18000 levels
  • Key levels to watch for are 17950-18000 ,above 17950 nifty futures should take support and trend upward

Nifty Futures 15 Minute chart https://www.tradingview.com/x/7GQe0gYi/

Banknifty Futures

Daily Chart

  • Banknifty trading above the breakout level of 40000 looks bullish 
  • With resistance visible at 41400 near the Ath level
  • Low risk area for longs would be 40000 level retest (if done) as the stop loss would be small and favourable risk reward
  • Overall price trend and structure are bullish 

Banknifty Futures 45 Minute chart analysis

  • Banknifty futures opened within the friday’s range and yesterday also got rejected from the 40750 levels 
  • Since banknifty futures have seen multiple rejections from that level , upside momentum would be once it is broken and sustained for more than 20 minutes
  • Banknifty looks rangebound within 40400-40750 levels 

Banknifty Futures 15 Minute chart https://www.tradingview.com/x/e1UkVGUo/

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