Market Overview For 15th November 2022

November 15, 2022 by Ayush Anjana · 2 min read

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The Broader Market indices opened nearly flat yesterday and consolidated where both nifty and banknifty saw some rejection from day’s high level post 3pm. Among the sectoral indices IT and metals continue to shine

Nifty Daily Chart 

  • Nifty opens around 18400 slides down with an attempt of bounce is again rejected from the open and closes around 18320
  • Except the gap opening there is a clear evidence of lack of strength 
  • With resistance at 18400 from the past price structure , nifty looks rangebound within 17950-18400 
  • Strength to follow if 18400 is taken out 

Nifty 45 Minute chart analysis 

  • Nifty opens with a slight gap up and slides down closing near to day’s low
  • Key levels to watch is 18250 on the downside which is the gap open after the US inflation data 
  • 18400 will act as a resistance on the upside

Nifty 15 Minute chart https://www.tradingview.com/x/Nm6Vr5du/

Banknifty Daily Chart

  • Banknifty trades within yesterday’s range 
  • There is a lack of momentum in banknifty instead of the fact that it trades at all time high levels
  • Broader trend is positive with support around 41200

Banknifty 45 Minute chart analysis 

  • Banknifty opens within yesterday’s range and consolidated 
  • Within the consolidation , there was rejection visible around the day’s high 
  • Key levels to watch are 41900 on the downside and 41250 on the upside (PDH)

Banknifty 15 Minute chart https://www.tradingview.com/x/L9EjQWGt/

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