Market Overview For 14th October 2022

October 13, 2022 by Ayush Anjana · 2 min read


The broader Indian indices opened with a small gap down , consolidated for next 30 Minutes and broke the day’s low  facing some selling pressure where banknifty futures tested the 38500 levels and bounced back closing around 38770. Nifty futures just closed above 17000

Nifty Futures 

Daily chart 

  • Nifty futures still within the inside bar candle 
  • The low of the day 16940 has been respected thrice and bounced back
  • We can expect good move once there is a break from the inside bar range
  • The broader trend changes only once we break 17450 on a closing basis

Nifty Futures 45 Minute chart analysis

  • Nifty future opened with a gap down tested the 16940 levels again
  • Yesterday high around 17150 will be the resistance level
  • Key levels to watch for are 16940 and 17150
  • Breaking the range and sustaining for more than 15 minutes can see a follow up move

Nifty Futures 15 Minutes chart

Banknifty Futures 

Daily Chart

  • Banknifty Futures Trading within the inside bar range of 38600-39450
  • We can see good move once the price closes out of this range on a daily close basis
  • Keeping in view the broader trend changes only once 39800 is broken on the upside 

Banknifty Futures 45 Minutes Chart analysis 

  • Banknifty futures opened with a gap down within the previous days range , it consolidated for 30 minutes and fell 
  • On intraday basis banknifty broke the previous days low of 38600 but could not sustain and there was a bounce 
  • Key levels to watch are 38600 and 39200 (PDH)
  • Expecting rangebound between 39800 and 38200 for the upcoming week 

Banknifty Futures 15 Minute chart