Market Overview For 19th August 2022

August 19, 2022 by Ayush Anjana · 2 min read


The Indian markets continued the green streak on the expiry. Nifty ended up closing flat whereas banknifty nearly shot up 0.5% Among the sectoral indices metals were the outperforming followed by banks. On an individual front also the heavy weights of banknifty are looking good. Jubilant foodworks which was discussed yesterday went up 2.36%.

Nifty futures

Daily chart

  • Highly likely nifty futures approaching the 18140 resistance level around which it may take a pause or become rangebound for a couple of days
  • Uptrend intact until above 17600-17700
  • Good risk reward around the same support zone 

Nifty futures 45 min chart

  • Nifty futures opened within the previous day range , retested the previous day’s low and bounced
  • Ending to close at the days high
  • Uptrend to continue with key level to watch for in intraday are 17850 


Nifty futures 15 min chart

Banknifty futures

Daily chart

  • banknifty continued its upward momentum gaining nearly 0.5% on thursday.
  • Highly likely the trend will continue with a bit of pause or consolidation as on a individual front banking stock are looking good with icici bank leading trading at new all time high
  • Range visible as per daily chart is 39000-40000 which has good probability of getting broken on the upside

Banknifty futures 45 min chart

  • banknifty opened within the previous day’s range which it tried breaking in the first half but was rejected from 39660 levels
  • Correcting from the day’s high bank nifty again reentered the 39100-39500 level which we discussed yesterday to be rangebound 
  • But out of surprise taking support at day’s low banknifty bounced closing around a new high for the day
  • Uptrend to continue with 39500 level to watch on intraday

Banknifty futures 15 min chart