Market Overview For 19th October 2022

October 19, 2022 by Ayush Anjana · 2 min read


The Broader indian market indices opened with a gap up and ended up consolidating for the whole session where nifty ended up closing above 17450 and banknifty above 40300. Among the sectoral indices nearly all ended up in green with nifty media being the strongest

Nifty Chart

Daily Chart

  • Nifty opens with a gap up above 17450 and sustains
  • Nifty has a breakout as 17450 was the previous swing high and resistance level
  • Until nifty is above 17300 we can witness strength in nifty
  • Broader trend turns positive as per higher high and higher low

Nifty 45 Minute chart analysis

  • Nifty opens with a gap up and consolidates 
  • Key levels to watch are 17530 (PDH) and 17350 (gap area and support)
  • In case of a gap up above 17530 will act as a support 

Nifty 15 Minute chart

Banknifty Chart

Daily chart

  • banknifty gives a gap up opening after the breakout from 39800
  • banknifty looks good until above 39800 , any support on smaller time frame will offer good risk reward 
  • With 40500 as the resistance which previously was a support 

Banknifty 45 Minute chart analysis

  • banknifty opened with a gap up and consolidated for the whole day between 40150 and 40350
  • Historically ,On the upside 40500 was the support before the breakdown which shall provide some resistance now
  • On the downside key levels to watch are 39800-40000

Banknifty 15 minute chart