Market Overview For 1st September 2022

September 1, 2022 by Ayush Anjana · 2 min read


The indian broader indices opened gap up on Tuesday and started rallying upward. As soon as nifty broke the 17500-17550 mark and banknifty 39000 both the indices observed short covering and rallied further. banknifty on a closing basis ended up breaking 39500 levels. All the sectoral indices ended up closing green while the outperforming indices were banknifty , CNX-Finance and CNX-Realty closing more than 3%

Nifty Futures

Daily chart

  • Nifty futures showed furious momentum on thursday ,opening gap up and follow up on the upside
  • As per the previous swing high on the price structure 17750-17800 is a resistance level from where it fell last week
  • Once 17800 is taken out on a closing basis , bullish momentum continues.
  • Key support area around 17340-17400

Nifty Futures 45 Minute chart Analysis

  • Nifty post the gap up ended up breaking 17500 level which was a key decision level 
  • Post the breakout , it observed furious short covering rally 
  • If we open within tuesday’s range key levels to watch are 17800 on the upside ,17500 on the downside within which it can be rangebound
  • If it breaks 17550 , highly likely it can test previous days low

Nifty futures 15 Minute chart

Banknifty Futures

Daily chart

  • banknifty futures opened gap up and after breaking 39000 observed a furious rally toward 39700
  • Key resistance levels on daily chart around 39700-39800
  • Key support levels around 38000

Banknifty Futures 45 minute chart analysis

  • With 39700-39800 being resistance level on bigger time frame it will be a key decision level to watch for the upside
  • On the downside , in case of a flat to gap down opening key level to watch are 39100-39150
  • Sustaining below 39100 for more than 20 minutes can give strength to the bears


Banknifty Futures 15 minute chart