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 https://www.tradingview.com/x/DK33cSVP/
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 https://www.tradingview.com/x/iH9UWkNB/