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

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