Market Overview For 22nd December 2022

December 22, 2022 by Ayush Anjana · 2 min read


The Broader Market indices  Opened with a gap up opening where both indices consolidated for initially some time followed by a breakdown resulting in weakness , in banknifty the fall in the second half was too severe for intraday as it corrected till 42300 once 43000 broke in nearly 9 Minutes

Nifty Daily Chart

  • Nifty opens around the high end of the inside bar range yet happens to break the range in downside with a big red candle 
  • The structure looks weak where we can expect more weakness once 18100-18150
  • Thinking it from another perspective , for someone who prefers high risk reward multiple trade , the support area of 18100-18150 may look exciting


Nifty 45 Minute chart analysis

  • Nifty opens with a gap up and re-enters the yesterday’s range 
  • The weakness in indices was quite strong as there is no green candle on 45 Minute chart for yesterday
  • Key levels to watch are 18150 and 18450
  • If 18150 is not broken and sustained we may see a rangebound expiry

Nifty 15 Minute chart

Banknifty Daily Chart

  • Banknifty breaks the 43600-42800 range in a single candle opening around the range’s high closing at fresh low
  • The structure of banknifty too turns weak 
  • Until we trade below 43000 , we can test 41900 levels

Banknifty 45 Minute chart analysis

  • Banknifty opened with a gap up around 43600 and gets rejected entering yesterday’s range 
  • Once 42250 was broken which we discussed yesterday there was a one way selling 
  • Key levels to watch are 43000-42200

Banknifty 15 Minute chart