Market Overview For 22nd September 2022

September 22, 2022 by Ayush Anjana · 2 min read


The Indian Broader indices experienced a lot of volatility on wednesday before the Fed event . Nifty opened lower than Tuesday’s close and remained rangebound for the initial hour followed by a selling pressure post which it took support and bounced nearly 100 points ending just 30 points below the open yet the option premium of ATM straddle went up observing no decay . banknifty also had the same structure 

Nifty Futures 

Daily Chart

  • Nifty trading in a rangebound market between 17450-18000
  • Even though we can observe support around 17250 also yet it is quite evident from the structure that outside the range of 17450-18000 we can witness a trendy move
  • The broader trend is positive until we close below 17250

Nifty Futures 45 Minute Chart Analysis

  • Nifty futures opened lower consolidated for the initial hour and did a breakdown falling 100 points below the day’s low 
  • Nifty Futures took support around 17670 and bounced back
  • Key levels to watch are 17670 on the downside and 17950 on the upside

Nifty Futures 15 Minute chart

Banknifty Futures

Daily Chart

  • Banknifty trading within the inside bar of 40300-41700 near the all time high 
  • A good trendy move to follow once we have breakout/breakdown  from the inside bar range
  • The trend is still positive until we close below 40000 on a daily basis

Banknifty futures 45 Minute chart analysis

  • banknifty futures opened within the previous day’s range gave a breakdown from 41200 levels 
  • Falling more than 250 point post the breakdown to 40935 from where it bounced back closing above 41200
  • Key levels to watch in case of flat opening 41200-41700
  • Key levels to watch in case of gap down opening are 40650-41200

Banknifty Futures 15 Minute Chart analysis