Market Overview For 21st September 2022

September 21, 2022 by Ayush Anjana · 2 min read


The Indian broader Indices opened with a gap up and headed higher and got selling pressure in the second half of the trading session. Nifty Futures got rejected from 17950 levels closing around 17800 and banknifty Futures got rejected from 41700 closing around 41500. During the second half , bank nifty was relatively stronger than nifty

Nifty Futures

Daily Chart

  • Nifty Futures still trading within the broader range of 17500-18125
  • With  17250 level being the crucial support as well as previous breakout level 
  • Nifty looks rangebound as per daily charts , smaller time frame analysis can be used to find trendy move within the broader range

Nifty Futures 45 Minutes Chart analysis

  • Nifty opened with a gap up above 17750 and rallied to 17950 where it faced selling pressure and closed nearly at 17800
  • Key level to watch are 17730-18000 within which we can see rangebound movement

Nifty Futures 15 Minutes Chart

Banknifty Futures 

Daily Chart

  • Banknifty trading within the inside bar formation of 40300-41700 
  • Yesterday also bank nifty in the second half got rejected from the upper end of the inside bar
  • Once 41700 is broken on closing basis we can see good up move in banknifty which looks relatively stronger than Nifty-50

Banknifty Futures 45 Minutes analysis

  • bank nifty broke the 41200 resistance level with a gap up and headed higher towards 41700
  • 41700 which was the resistance level near ATH , banknifty got rejected and faced selling pressure
  • Key levels to watch are 41700 on upside and 41200 on downside within which it may be rangebound

Banknifty Futures 15 Minute Chart