Market Overview For 20th December 2022

December 20, 2022 by Ayush Anjana · 1 min read


The Broader Indian Indices opened with a gap up where initially nifty was stronger than banknifty  as nifty headed higher making new higher high and higher low for intraday whereas bank nifty tested previous day’s low and gave a bounce closing above 43400

Nifty Daily Chart

  • Nifty gives a pullback up to close near the 18450 resistance level
  • The stance remains rangebound to slightly bearish until we trade below 18680
  • Momentum to come only once 18680 is broken on daily close , higher chances of 18150 being tested


Nifty 45 Minute chart analysis 

  • Nifty opens with a gap up , testing previous day’s low shows strength closing above 18400
  • Key levels to watch remains same with 18450 on the upside and 18150 on the downside

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty takes support from 43000 levels and bounces back closing above 43400
  • Banknifty looks rangebound between 43600-42800 levels
  • Crucial support around 42800

Banknifty 45 Minute chart analysis 

  • Banknifty opens with slight gap up and tests yesterday’s low , bouncing from their gives a closing above 43400
  • banknifty looks strong on smaller time frame until above 43250
  • From a range perspective , range visible is 43600-43250

Banknifty 15 Minute chart