Market Overview for 21st December 2022

December 21, 2022 by Ayush Anjana · 2 min read

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The Broader Market indices  Opened with a gap down and gave follow through down move where nifty went till 18200 and bounce closing around 18385 and banknifty opened made an inside bar went till 42950 after closing below the inside bar from where it bounced closing at a fresh high for the day

Nifty Daily Chart

  • Nifty went till 18200 after the gap down and bounced closing around 18385
  • Nifty forming an inside bar formation between the range of 18200-18450
  • We can expect a trendy move when  the inside bar breakout happens either side

 

Nifty 45 Minute chart analysis

  • Nifty opens with a gap down , bouncing from 18200 closes at a fresh day high
  • Key levels to watch for will be 18200 on the downside and 18450 on the upside
  • We can expect some upmove strength once 18450 is broken and sustained for more than 15 minutes 

Nifty 15 Minute chart https://www.tradingview.com/x/HOUNCexM/ 

Banknifty Daily Chart

  • Banknifty closes at day’s high after opening gap down and quite weakness in the initial session
  • Bank nifty looks rangebound between 42900-43600
  • We can see some strength to follow once 43600 is taken out on closing basis 

Banknifty 45 Minute chart analysis

  • Banknifty opens with a gap down , testing 42950 and bounced closing at fresh high for the day
  • It can be observed especially in bank nifty that every dip is getting bought around 43000
  • Higher chances of a gap up opening 
  • Key Levels to watch are 43250 and 43600

Banknifty 15 Minute chart https://www.tradingview.com/x/oNsjuuir/

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