Market Overview For 21st November 2022

November 21, 2022 by Ayush Anjana · 2 min read

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The Broader Indian Indices opened within previous day’s range with a slight gap up and started going down with open equals to high where nifty tested the 18200 level and bounced and bank nifty tested 42200 levels and bounced with good momentum in the ending of the session

Nifty Daily chart 

  • Nifty trading range bound between  18200-18450
  • Upside momentum to continue only if 18450 is taken out and higher chances of gap filling if 18200 is broken on the downside
  • With the broader trend being positive with crucial support at 17950 which shall be low risk area for bulls

Nifty 45 Minute chart analysis :-

  • Nifty from the open slides down breaking previous day’s low and touching 18200 from where it bounced with momentum 
  • Key levels to watch will be 18200 (PDL) and 18450 which is the resistance
  • Breaking the mentioned range and sustaining for more than 15 minutes can witness some trendy move

Nifty 15 Minute chart https://www.tradingview.com/x/EOU2dPk0/

Banknifty Daily Chart

  • Banknifty taking support again on the trendline which can be drawn from 37450 levels
  • The banking index looks rangebound between 42200-42650 levels
  • With the broader trend being positive with crucial support around 41900

Banknifty 45 Minute chart analysis 

  • Banknifty opens around thursday high and slides down toward 41200
  • From where it bounced back sharply closing near thursday’s close
  • Key levels to watch will be 42200 on the downside and the 42600 resistance levels

Banknifty 15 Minute chart https://www.tradingview.com/x/Yw50RoWq/

LET’S WORK TOGETHER