Market Overview For 23rd November 2022

November 23, 2022 by Ayush Anjana · 2 min read

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The broader indices opened with a slight gap up where nifty after consolidation went up closing around Monday’s high and banknifty consolidated within the first 15 minute range. Among the sectoral indices except energy and realty all were positive

Nifty Daily chart 

  • Nifty closes above 18225
  • With the parallel channel support from the 17000 level on daily chart , nifty again bounces back from the lower end of the channel
  • Nifty broader range visible is 18450-17950
  • As 17950 is a crucial support for the currently prevailing uptrend

Nifty 45 Minute chart analysis 

  • Nifty again closing above 18225
  • Key levels to watch are 18200 on the downside and 18450 on the upside
  • With the yesterday’s close higher chances of a gap up opening with no weakness until above 18200

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

Banknifty Daily Chart 

  • Banknifty trading within a parallel channel since 37370 levels 
  • With the broader trend being positive , 41900 will be a key support area
  • Currently banknifty looks rangebound between 41900-42600 , once 42600 is taken out on closing basis , momentum to continue

Banknifty 45 Minute chart analysis 

  • Banknifty opens with a slight gap up and consolidates for the whole day within the first 15 Minute range 
  • Key levels to watch remain the same which is 42200 on the downside and 42600 on the upside
  • Once we sustain for more than 15 minute out of this range , higher chances of a trendy move

Banknifty 15 Minute chart https://www.tradingview.com/x/W7eTWzpy/

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