Market Overview For 19th December 2022

December 19, 2022 by Ayush Anjana · 2 min read


The Broader Indian Indices opened with a gap down and started going up from the initial tick till their previous swing highs , getting rejected from their both nifty and bank nifty corrected making a new low for the day , the volatility on friday was quite high with random spikes 

Nifty Daily Chart 

  • Nifty completes the head and shoulder formation and gives a breakdown closing below 18300
  • Higher chances of nifty testing the 18000-18150 demand zone
  • Nifty looks rangebound to bearish until we dont close above 18680

Nifty 45 Minute chart analysis 

  • Nifty opens with a gap down , starts shooting up in the initial 15 Minutes and gets rejection 
  • Breaking the day’s open , nifty fresh low which is followed by wild swings marking a typical friday
  • Key levels to watch for are 18250 on the downside and 18450 on the upside

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty breaks the trendline support since 37500 
  • Concluding a weak close as it again enters the 42800-43300 range 
  • Crucial support level to watch for will be 42800

Banknifty 45 Minute chart analysis 

  • Banknifty opens with a gap down , initially there was strong  buying till 43600 where it got rejected and made a fresh low for the day
  • bank nifty is forming an inverted flag pattern on smaller time frame
  • Key levels to watch are 43000-43400

Banknifty 15 Minute chart