Market Overview For 20th September 2022

September 20, 2022 by Ayush Anjana · 2 min read


The Indian broader Indices opened flat to gap down on monday where nifty tried breaking previous day’s low but could not even sustain below for 15 minutes and buying came in , taking the index to the day’s high and in the later half it consolidated within a narrow range. Banknifty on the other hand opened gap down talk support at previous day’s high and headed high taking resistance around 41200 and getting rejected at higher levels closing around 40900.

Nifty Futures

Daily Chart

  • Nifty Futures as per daily chart looks rangebound between 17250-18125
  • Yesterday nifty futures traded within an inside bar range of the friday’s trendy move
  • Based on the inside bar breakout also there can be a trendy move within the broader range 
  • Key support level around 17250

Nifty Futures 45 Minute chart analysis 

  • Nifty after opening flat tried breaking down 17500 level but could not even sustain for more than 15 minutes
  • Key decision level to watch for are 17500 on the downside and 17800-17840 on the upside 
  • Looks range bound within the support and resistance. 

Nifty Futures 15 Minute chart

Banknifty Futures

Daily Chart

  • Banknifty trading in an Inside bar range of 40300 and 41600
  • Trendy move to follow once this range is broken on any side 
  • As per structure , the positive trend is intact 

Banknifty Futures 45 Minute chart analysis

  • Banknifty Futures opened gap down , taking support around previous day’s low bounced back up and got rejected from the 41200 resistance level
  • Key decision level to watch for remain same 40600-41200
  • Trendy move to come once any of the level is broken and sustained for more than 20 minutes

Banknifty Futures 15 Minute Chart