Market Overview For 18th November 2022

November 18, 2022 by Ayush Anjana · 2 min read

blog-feature-image

The Indian broader indices opened with a slight gap down and headed higher consolidating for the most part of the weekly expiry day till 3pm post which both indices saw a fall where banknifty fell more than 150 points from the high and nifty nearly 80 points

Nifty Daily Chart

  • Nifty trading within 18450 and 18250 range
  • With the broader trend positive , strength to follow once the range’s high of 18450 is taken out
  • With trendline support as well as the gap open area after us inflation data 18250 will be the support

Nifty 45 Minute chart analysis 

  • Nifty opens with a gap down and heads higher getting rejected around 18420 levels 
  • Key levels to watch for are 18450 on the upside and 18250 on the downside
  • A trendy move any side the range is broken and sustained for more than 15 minutes

Nifty 15 Minutes chart https://www.tradingview.com/x/PpJ19KuP/

Banknifty Daily Chart

  • Banknifty heading higher with compressed range along the trendline support based upon the daily time frame
  • Banknifty trading within an inside bar range of 42300-42625
  • With the broader trend being positive , strength to follow once 43600 is broken 
  • Weakness  only below 41900

Banknifty 45 Minute chart analysis 

  • banknifty opens with a slight gap down around 42366 and heads higher towards 42570 levels
  • Key levels to watch are 42600 on the upside and 42250 on the downside
  • Trendy move once this range is broken any side

Banknifty 15 Minute chart https://www.tradingview.com/x/X8SNx1nJ/

LET’S WORK TOGETHER