Market Overview For 17th November 2022
November 17, 2022 by Ayush Anjana · 2 min read

The Broader Indian Indices opened flat yesterday with some volatility in the initial hour , there was good upside momentum on the banknifty post where there was a consolidation between 42400-42600. Nifty remained rangebound between 18350-18450
Nifty Daily Chart
- Nifty trading between the range of 18270-18450 for last couple of days
- With the broader trend being positive , low risk area for bullish trade around 18270-18300
- Trendy move to follow once the 18270-18450 range is broken
Nifty 45 Minute chart analysis
- Nifty remain flat for the day as open equals to the close with good volatility in the middle
- Key levels to watch are 18270 on the downside and 18450 on the upside
- Fresh momentum to follow once 18450 is taken out similarly if 18270 is broken higher chances of the gap getting filled
Nifty 15 Minute chart https://www.tradingview.com/x/Qt4Ahc3X/
Banknifty Daily Chart
- Banknifty closes above 42500
- With a good up move since the 41900 level were broken , banknifty has been respecting a trendline as a support on daily time frame
- Crucial support for the broader trend around 41200
Banknifty 45 Minute chart analysis
- Banknifty opened flat , tested the 42300 support based on small timeframe which previously was the resistance and bounced
- Heading towards 42500 around where it consolidated
- Key levels to watch are 42250 on the downside and 42600 on the upside
Banknifty 15 Minute chart https://www.tradingview.com/x/VRkD67er/