Market Overview For 15th February 2023
February 15, 2023 by Ayush Anjana · 2 min read
The broader Market Indices opened with a gap up where nifty from the start headed higher and banknifty initially got rejected from 41400 fell till 41200 and bounced back closing at fresh day’s high
Nifty Daily Chart
- Nifty breaks the inside bar range and the 17850 resistance
- Nifty also gives a breakout from the downward parallel channel
- We can see some strength with overhead resistance around 18250 but with overnight fed speech , tomorrow’s close will be important
Nifty 45 Minute chart analysis
- Nifty opened with a gap up above 17800 and headed higher from the start breaking the 17900 resistance , closed around 17920
- Until nifty is above 17850 , we can see some strength in nifty
- Key levels to watch are 17850 and 18000
Nifty 15 Minute chart https://www.tradingview.com/x/0KUuY7
Banknifty Daily Chart
- Even though Nifty gave a breakout , banknifty closed within the range around 41600
- Once 41750 is taken out , we can see good strength in the banking index
- With crucial support around 41000
Banknifty 45 Minute chart analysis
- Banknifty opened with a gap up around 41400 and fell getting rejected till 41200 and bounced back closing at fresh day’s high around 41600
- Key levels to watch are 41750 on the upside and 41200 on the downside which has been respected multiple times
- In case of gap up above 41700-41750 which fails to give a follow through and falls back into the range , we can see some selling also
Banknifty 15 Minute chart https://www.tradingview.com/x/WF1HQ2v9/