Market Overview For 19th January 2023

January 19, 2023 by Ayush Anjana · 2 min read


The broader Market Indices opened slightly positive and headed higher where nifty closed above 18130 and banknifty closed above 42400

Nifty Daily Chart 

  • Nifty breaks the 18130 resistance and closed around 18165
  • We can witness some upside rally once the main resistance of 18250 is broken on a daily close
  • Nifty which was also getting resistance from a downward trendline gave a breakout but trendline breakout are not as powerful as horizontal line breakouts

Nifty 45 Minute chart analysis 

  • Nifty opened above 18050 and headed higher , during the day bulls dominance was clear as there was no sign of weakness
  • In case of gap up opening levels to watch will be 18130 and 18250
  • In case of a gap down opening levels to watch are 18000 as a support level and PDH

Nifty 15 Minute chart

Banknifty Daily chart

  • Banknifty still trades within the broader range of 42700-41800
  • Upside strength once 42700 is taken out on daily close
  • The structure within the range states that buyers are active around the lower end of the inside bar range

Banknifty 45 Minute chart analysis 

  • Banknifty opened around the Previous day close and initially there was selling in first 15 min but 42100 was respected and it bounced closing around 42450
  • Key levels to watch are 42300 on the downside and 42700 on the upside

Banknifty 15 Minute chart